The majority shareholder of Stillwater Mining (NYSE:SWC) plans to offer 37 million shares in an offering, potentially eliminating its entire stake in the company. Norimet is also giving underwriters the option to buy an additional 3.8 million shares. Stillwater also said that Norimet expects to sell up to 7.8 million additional shares to UBS Securities or an affiliate, and it will receive any proceeds from either offering.
Shares are lower by nearly 5.5 percent.
Shares of BSD Medical (NASDAQ:BSDM) are lower after the company announced it did not have any new orders as of August 31, the end of its fiscal year, for its hyperthermia devices, which treat cancer with heat. The company did disclose, however, that it has since received orders for seven units worth about $2.4 million in total.
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