Shares of Anaheim-based DDi Corp. slumped nearly 30% on Wednesday, a day after the contract circuit board maker said it was offering up to 100 million shares to stockholders.
DDi said Tuesday it is offering current stockholders the right to buy an extra 3.86 shares for each share owned at 75 cents a share.
The company’s shares closed at 96 cents on Wednesday, down 26% from a day earlier.
Details of the offering come after DDi earlier this month said it incurred a $37 million operating loss for the second quarter. The loss was due in large part to amortization of goodwill and reorganization charges.
DDi underwent a bankruptcy reorganization in 2003 and rode the technology rebound in 2004. The company’s market value went from nothing to $400 million.
Now DDi is struggling again with a recent market value of $25 million. The company, which makes circuit boards for computers and other electronics, has seen tepid demand of late.
DDi and others have been wrestling with a falloff in demand that started last year.
In February, DDi quit its European operation after failing to land a credit pact to its liking.
