Key Developments For Avatar Holdings, Inc.
Avatar Holdings, Inc. (AVTR.O) (Nasdaq)
Avatar Holdings, Inc. Announces Closing of Over-Allotment Option
Avatar Holdings, Inc. announced the closing of the sale of an additional 264,391 shares of its common stock at a public offering price of $18.00 per share pursuant to the underwriter's partial exercise of its option to purchase additional shares of common stock. The option was granted in connection with the Company's underwritten public offering of 2,250,000 shares of common stock at a price of $18.00 per share. The partial exercise of the option resulted in net proceeds of $4.5 million, bringing the total net proceeds of the offering to approximately $42.2 million. The Company intends to use the net proceeds from the offering for general corporate purposes, including, without limitation, potential new acquisitions of real estate and real estate-related assets. The offering was made through Barclays Capital Inc., as sole underwriter.
Avatar Holdings, Inc. Prices Public Offering
Avatar Holdings, Inc. announced that it has priced, in an underwritten public offering, 2,250,000 shares of common stock at $18.00 per share, which includes an increase of approximately 40%, or an additional 637,097 shares from the previously announced offering size of 1,612,903 shares of common stock due to investor demand. In addition, the underwriter has been granted an over-allotment option to purchase an additional 337,500 shares of common stock. The offering was made through Barclays Capital Inc., as sole underwriter, and is expected to close September 28, 2009 subject to standard closing conditions. The Company intends to use the proceeds from the sale for general corporate purposes, including, without limitation, potential new acquisitions of real estate and real estate-related assets.
Avatar Holdings, Inc. Announces Common Stock Offering
Avatar Holdings, Inc. announced that it has commenced an offering of 1,612,903 shares of common stock in a registered public offering underwritten by Barclays Capital Inc. The Company intends to use the proceeds from the sale for general corporate purposes, including without limitation, potential new acquisitions of real estate and real estate-related assets.
Avatar Holdings, Inc.'s Board Amends Authorization To Repurchase Securities
Avatar Holdings, Inc. announced that its Board of Directors, at its meeting of December 12, amended its June 2005 authorization to repurchase its 4.50% Convertible Senior Notes and shares of its Common Stock. The Company may expend up to approximately $30 million, including the approximate $1.9 million previous authorization, to effect purchases from time to time in the open market, through privately negotiated transactions or otherwise, depending on market and business conditions and other factors.
Avatar Holdings, Inc. Announces Resignation of CFO - Form 8 - K
Avatar Holdings, Inc announced in its Form 8 - K that Charles L. McNairy has resigned as Chief Financial Officer of the Company , effective July 9, 2007.Randy Kotler has been appointed as Chief Financial Officer of the Company.
