Eltek Shares Fall Premarket After Public Offering.

Eltek, a printed circuit boards manufacturer, saw its shares fall by over 15% in premarket trading on Tuesday. The company is raising $10 million in a public stock offering, selling 625,000 shares at $16 each, a lower price than the previous day's closing price of about $22.40. The offering is expected to close on February 15, with ThinkEquity as the sole book-running manager. The company plans to use the net proceeds to invest in expanding its production capabilities and for general corporate purposes.

February 13, 2024
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