Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Hovnanian Announces Proposed Public Offering Of Class A Common Stock

RELATED NEWS
Trade HOV now with 
4/3/2012 4:22 PM ET

Hovnanian Enterprises, Inc. (HOV: Quote) said Tuesday that it has commenced a registered underwritten public offering of Class A Common Stock.

The offering is anticipated to consist of the issuance of 25 million shares of the company's Class A Common Stock.

In addition, the company plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Class A Common Stock sold to cover over-allotments.

The company said it plans to use the net proceeds of the offering to purchase certain of its senior unsecured notes in a private transaction and for general corporate purposes, including the refinancing, repurchase or repayment of indebtedness, working capital needs, capital expenditures and expansion of the business.

Click here to receive FREE breaking news email alerts for Hovnanian Enterprises Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.