Analyst Research

Report Title Price
Provider: Stock Traders Daily
Provider: ValuEngine, Inc.
Provider: S&P Capital IQ Factual Report
Provider: Pechala's Reports

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Laclede Group Inc prices offerings of common stock and equity units

Thursday, 5 Jun 2014 10:35pm EDT 

Laclede Group Inc:Prices public offering of 9 mln shares of common stock at $46.25 per share.In addition, the company has priced a public offering of 2.5 mln equity units or $125 mln in equity units.Each equity unit will be issued in a stated amount of $50 and will consist of a contract to purchase the company's common stock in future and a 1/20, or 5 percent, undivided beneficial ownership interest in a 2014 Series A 2.00 pct. remarketable junior subordinated note due 2022.Says it has granted the underwriters a 30-day option to purchase up to 1.35 mln additional shares of the company's common stock and a 13-day option to purchase up to 375,000 additional equity units.Says offerings (which are not conditioned on one another) are expected to close on or about June 11.Intends to use net proceeds from offerings, which are expected to be $522 mln in aggregate, primarily to fund portion of cash consideration payable in connection with pending acquisition of Alabama Gas Corp.Credit Suisse and Wells Fargo Securities are lead book-running managers for both the common stock and equity units offerings.BofA Merrill Lynch and Morgan Stanley are joint book-running managers of the common stock offering.In addition, J.P. Morgan and RBC Capital Markets are joint book-running managers of the equity units offering. 

Company Quote

0.09 +0.19%
11:26am EDT