Ouster Shares Slide as Lidar Maker Targets $200 Million Offering

Shares of lidar technology developer Ouster retreated in premarket trading Thursday following the company’s announcement of a public offering priced at $55.22 per share. The move arrives after a sharp rally that saw the company’s stock value more than double since the beginning of the year.

Today, 14:40· Money Talk· 407 reads

The company intends to raise approximately $200 million through the sale of 3.6 million shares, earmarking the capital for general corporate needs and daily operations. Following the news, the stock dropped 6.8% to $55.97. Northland Capital Markets is acting as the sole bookrunner for the transaction, which includes a 30-day option for underwriters to purchase an additional 543,281 shares.

Ouster specializes in light detection and ranging sensors essential for the robotics, drone, and autonomous vehicle sectors. The current offering is expected to finalize on July 6, marking a significant capital infusion for the company as it navigates a period of rapid market valuation growth.

Ouster Shares Slide as Lidar Maker Targets $200 Million Offering

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