REalloys (ALOY) said Monday that it has completed its previously announced public offering of about 2.7 million shares at $18.50 per share, for gross proceeds of about $50 million.
Underwriters were given a 30-day option to buy up to an additional 396,963 common shares, the company said.
The company said it plans to use the net proceeds for working capital and general corporate purposes.
Shares of REalloys fell about 12% in Monday morning trading.
Price: 15.41, Change: -2.10, Percent Change: -11.97
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