LSI Industries announces $90 million stock offering

LSI Industries Inc. (NASDAQ: LYTS) announced it intends to offer $90 million of common stock through a public offering, subject to market conditions. The Cincinnati-based manufacturer of commercial lighting and display solutions will also grant underwriters a 30-day option to purchase up to an additional 15% of the offered shares.

The company plans to use net proceeds to implement its growth and acquisition strategy. Specifically, LSI will use funds to pay a portion of the purchase price for its proposed Royston Group acquisition under an agreement dated February 20, 2026. The proceeds will also help repay borrowings under a senior secured credit facility commitment letter dated January 21, 2026, with PNC Capital Markets LLC and PNC Bank. The Royston Group acquisition is expected to close in the third quarter of LSI's 2026 fiscal year.

Additional funds may be used for general working capital and corporate purposes.

Oppenheimer & Co. and Craig-Hallum are serving as joint lead book-running managers for the offering. The offering is being conducted under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

LSI manufactures lighting, graphics and display solutions across strategic vertical markets. The company operates 18 manufacturing plants in the United States and Canada and employs approximately 2,000 people.

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