** Shares of aerospace parts manufacturer Loar Holdings
fall as much as 3.8%; last down 1.7% at $86.21
** LOAR late Tuesday priced its upsized public offering of about 5.8 mln shares at $85/shr
** Co sold roughly 3.9 mln shares in the offering while certain stockholders parted ways with about 1.9 mln shares
** Offering boosted from initial size of roughly 4.8 mln shares, priced at a 3% discount to stock's last close
** LOAR will use the proceeds to repay debt and for general corporate purposes
** Co had 89.7 mln outstanding shares as of Sept. 30, according to a SEC filing, giving it a $7.73 bln market capitalization as of last close
** Jefferies and Morgan Stanley were the lead book runners for the offering
** LOAR went public in New York in April after raising $308 mln in its IPO at $28 offer price
** As of last close, LOAR shares have more than tripled since debut on April 25
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.