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Fortress Investment Group LLC announces launch of public offering of class A shares

Wednesday, 12 Mar 2014 04:07pm EDT 

Fortress Investment Group LLC:Says it has commenced an underwritten public offering to sell 28,280,000 Class A shares, representing limited liability company interests in the company (the Class A Shares).As part of the offering, certain officers and senior employees of the Company, including Fortress principals (collectively, the selling shareholders), have agreed to sell 5,077,141 Class A Shares.Fortress and certain selling shareholders have also granted the underwriters a 30-day option to purchase up to 4,242,000 additional Class A Shares.Fortress intends to use all of its net proceeds from this offering to purchase an equivalent number of outstanding Fortress Operating Group partnership units from its principals.Fortress will not retain any proceeds from the sale of shares by the selling shareholders.The offering is being made pursuant to an automatic shelf registration statement filed with the Securities and Exchange Commission (the SEC), which became effective on March 12. 

Company Quote

0.02 +0.25%
26 Dec 2014