PDF Solutions Shares Drop 6.9% on Offering

PDF Solutions announced a stock offering of about 3.81 million shares, including 500,000 new shares and 3.31 million from Advantest America.
The announcement triggered a 6.9% after‑hours decline, with PDFS trading at $48, despite closing the day up 1.2% at $51.57.
The company has roughly 39.9 million shares outstanding; Morgan Stanley is the sole active bookrunner for the offering.
Stock is up 81% YTD and hit a record $56.46 intraday high on Monday.