This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stock Offerings: Federal Signal

Stocks in this article: FSS

NEW YORK ( TheStreet) -- Federal Signal (FSS - Get Report) shares fell as the fire truck and street sweeper maker became the latest to price an offering of common stock at a discount.

Federal Signal said it priced an offering of 10.5 million shares at $6.25 per share, which will result in net proceeds of $61.7 million. The offering price represents a 3.3% discount to Thursday's closing price. Underwriters were granted a 30-day option to purchase up to 1.57 million additional shares to cover overallotments, if any.

Federal Signal said net proceeds will be used to repay indebtedness under a revolving credit facility associated with the recent acquisitions of Sirit and VESystems.

Federal Signal shares were down 1.7% to $6.35. Volume in the first few minutes of trading topped 400,000 shares, quickly eclipsing the average daily volume of 322,000 shares.

Elsewhere, The Greenbrier Companies (GBX - Get Report) shares also traded lower after railroad freight car equipment maker priced an offering of 4 million common shares at $12.50 per share. Underwriters were granted an option for 30 days to purchase up to 600,000 additional shares to cover overallotments, if any.

Greenbrier shares were sliding 3.2% to $13.20.

Meanwhile, several companies filed shelf registrations with the Securities and Exchange Commission for mixed securities offerings.

PowerSecure International (POWR - Get Report) said it may offer, from time to time, up to $70 million of an indeterminate number of common shares, preferred stock and warrants. Additionally, selling stockholders may offer up to approximately 1.02 million common shares, although PowerSecure will not receive any proceeds from the sales by selling stockholders.

PowerSecure shares were down 6.7% to $9.19.

The Great Atlantic & Pacific Tea Company (GAP) said it may sell up to $500 million of any combination of common shares, debt securities or preferred stock in one or more offerings Great A&P Tea shares were rising 1.3% to $6.47.

Elsewhere, DXP Enterprises (DXPE - Get Report) filed a $75 million mixed securities shelf offering late Thursday. DXP shares were down 3.6% to $16.18.

Echelon (ELON - Get Report) filed for a $200 million mixed shelf offering. The filing came as Echelon said first-quarter revenue fell to $18.1 million from $38.8 million in the fourth quarter and $18.2 million in the year-ago quarter. Echelon said it net loss widened to 26 cents a share in the first quarter from a loss of 9 cents a share in the fourth quarter.

Echelon shares were dropping by 12.6% to $8.13.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs