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Jarden Corp Announces Closing Of Common Stock Offering

Tuesday, 10 Sep 2013 04:30pm EDT 

Jarden Corp announced the closing of its underwritten public offering of 15,000,000 shares of its common stock priced at $47.00 per share. In connection with the offering, Jarden has granted an option to the underwriters for a period of 30 days to purchase up to an additional 2,250,000 shares. After deducting underwriting discounts and commissions and other estimated offering expenses, the net proceeds of the offering were approximately $678.7 million. If the underwriters' option to purchase additional shares is exercised in full, the aggregate net proceeds to Jarden are expected to be $781.4 million. Jarden intends to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the previously announced acquisition of Yankee Candle Investments LLC (Yankee Candle). If the acquisition of Yankee Candle is not completed, the Company intends to use the net proceeds from the offering for general corporate purposes. Barclays Capital Inc. acted as lead book-running manager, and Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey, Inc. acted as joint book-running managers for the offering. 

Company Quote

0.66 +1.43%
3:42pm EST