Select Water Solutions slides on $175 mln stock sale

Select Water Solutions WTTR.N shares down 7.4% before the bell to $13.17 after pricing $175 mln equity offering

WTTR, which provides sustainable water and chemical solutions to the energy industry, late Thurs sold ~13.7 mln shares at $12.75, a 10.3% discount to stock's last sale

Co to use net offering proceeds for general purposes, including water infrastructure growth capital projects, potential acquisitions or debt repayment

JP Morgan and BofA lead bookrunners

Gainesville, Texas-based firm has ~121.3 mln shares outstanding

WTTR late Tues posted Q4 rev of $346.5 mln and adj EBITDA of $64.2 mln, both topping LSEG estimates of $320 mln and $60.9 mln, respectively. Its stock on Weds rose nearly 9%

Through Thurs close, stock up 35% YTD and has rallied nearly 80% over the past six months

All 6 analysts are bullish; median PT $16.50, per LSEG data