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Forestar Group Inc Announces Pricing Of Tangible Equity Units

Friday, 22 Nov 2013 06:30am EST 

Forestar Group Inc announced the pricing of an underwritten public offering of 5,400,000 6.00% Tangible Equity Units (the Units), each with a stated value of $25.00, which will result in net proceeds to the Company of approximately $130.27 million. The underwriters have a 13-day option to purchase up to an additional 600,000 Units from the Company. Settlement of the offering is subject to customary closing conditions and is expected to occur on November 27, 2013. The Company intends to use the net proceeds from the offering for general corporate purposes, including investments in strategic growth opportunities. Goldman, Sachs & Co. is serving as the sole book-running manager for the offering and KeyBanc Capital Markets Inc., JMP Securities LLC, Capital One Securities, Inc., J.P. Morgan Securities LLC, D.A. Davidson & Co. and UBS Securities LLC are acting as co-managers. 

Company Quote

-0.57 -3.02%
19 Sep 2014