LSI Industries prices $90.9 million stock offering at $19.75 per share

LSI Industries Inc. (NASDAQ: LYTS) announced it has priced an underwritten public offering of 4,600,000 shares of common stock at $19.75 per share. The Cincinnati-based commercial lighting and display solutions manufacturer expects gross proceeds of approximately $90 million before underwriting discounts and expenses.

The company granted underwriters a 30-day option to purchase up to an additional 690,000 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 2, 2026, subject to customary closing conditions.

LSI stated it intends to use net proceeds to implement its growth and acquisition strategy, including payment of a portion of the purchase price for its proposed Royston Group acquisition pursuant to an Agreement and Plan of Merger dated February 20, 2026. The company also plans to repay borrowings under a proposed Senior Secured Credit Facility Commitment Letter dated January 21, 2026, which will be used to fund the Royston Group acquisition expected to close in the third quarter of LSI's 2026 fiscal year.

Oppenheimer & Co. and Craig-Hallum are serving as joint lead book-running managers for the offering. H.C. Wainwright & Co. and Texas Capital Securities are acting as co-managers.

The offering is being conducted under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC on February 25, 2026.

LSI manufactures lighting, graphics, and display solutions and employs approximately 2,000 people at 18 manufacturing plants in the United States and Canada.

You May Also Be Interested In

• Jupiter Neurosciences prices $2M registered direct offering of shares
• WhiteFiber closes $310M convertible notes offering at 5% due 2032
• Breeze Acquisition Corp. II gets Nasdaq notice for late 10-Q filings