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AV Homes Inc Announces $135 Million Equity Investment By TPG

Wednesday, 19 Jun 2013 09:27am EDT 

AV Homes Inc announced that TPG has agreed to make a $135 million investment in the Company at a price of $14.65 per share, which represents a 9.6% premium to the 30-day trailing average closing price of AV Homes' common stock. AV Homes will use the proceeds to accelerate the implementation of its strategic growth plan in its existing and new high-potential housing markets. In addition the Company has adopted a shareholder rights plan effective designed to protect its net operating loss assets from the application of Section 382 of the Internal Revenue Code. 

Company Quote

-0.23 -1.51%
2:18pm EDT