TETRA Technologies (TTI) said Tuesday it commenced an underwritten public offering of $100 million of shares of common stock.
The company said it expects to grant underwriters a 30-day option to buy up to an additional $15 million of shares to cover over-allotments.
Proceeds will be used for general corporate purposes, including funding construction of its Arkansas bromine project, according to a statement.
Shares of the company were down over 9% in extended trading.
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