FONT-SIZE Plus   Neg

Hovnanian Announces Proposed Public Offering Of Class A Common Stock

Hovnanian Enterprises, Inc. (HOV) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.S. Consumer Products Safety Commission has asked Safety 1st to recall 35,000 highchairs after several children fell and were injured. The recall covers about 35,000 wooden Safety 1st highchairs in three models: HC144BZF (Casablanca), HC229CZF (Gentle Lace) and HC229CYG (Black Lace). Safety... Ferrari, the luxury car division of Fiat Chrysler Automobiles (FCAU) is reportedly getting a much higher valuation than previously expected driven by its premium status of manufacturing high-performance luxury cars. According to reports, Ferrari expects the IPO to bring its market valuation to about... SeaWorld Entertainment Inc. (SEAS) has received another blow to its business as the California Coastal Commission banned breeding of captive killer whales in San Diego. The new law means SeaWorld won't be allowed to breed captive orcas, including through artificial insemination, at its California...
comments powered by Disqus
Trade HOV now with 
Follow RTT