FPS is trading at $52.00 (5.4% down) in after-hours, extending a sharp multi-day pullback from recent highs following a follow-on offering and a $600 million senior term loan refinancing.
- The stock has been under persistent pressure since the June 26 announcement of its debt restructuring, which aimed to refinance $600 million in senior term loans.
- Sentiment is further weighed down by broader tech-sector volatility and growing investor concerns regarding leverage and the sustainability of AI infrastructure spending.