Data center firm TSS slides after launching stock offering

Data center services firm TSS' TSSI.O shares slide 9.1% to $16.91 premarket

TSSI late Tuesday commenced public offering of shares; size not disclosed

Lucid Capital Markets is the sole bookrunning manager for the offering

Stock closed down 1.2% at $18.60 on Tuesday

Proceeds will be used for general purposes, including repaying debt and capital expenditures

TSSI has 23.7 million outstanding shares as of June 30, according to offering prospectus

As of last close, TSSI shares up 56.8% YTD