Why Is Ouster Stock Falling Thursday?

Ouster, Inc. (NASDAQ: OUST ) stock fell in Thursday’s premarket session after the company priced a $200 million underwritten public offering. Ouster Prices $200M Offering The lidar technology company will sell 3,621,876 common shares at $55.22 per share. Ouster expects gross proceeds of approximately $200 million before underwriting discounts, commissions, and other offering expenses. The company also granted the underwriter a 30-day option to buy up to 543,281 additional shares at the public offering price, less underwriting discounts and commissions. It plans to use the net proceeds for working capital and other general corporate purposes. Recent BABA Compliance Update The offering follows recent investor interest in Ouster after the company said its Rev8 family of OS digital lidar sensors complies with Build America, Buy America Act requirements. The designation makes the sen...