logo
Share SHARE
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
Hard Rock Hotel & Casino Las Vegas, owned by Hard Rock Hotel Holdings, LLC, joins the long list of hotels whose payment-card data were hacked of late. Hard Rock on Monday said its investigation identified unauthorized access to the resort's customer payment-card data, after malware was placed on the payment-card system. The U.S. chain of theme restaurants, plans to open a high-end hotel in London. Gambling resorts operator Wynn Resorts Ltd. (WYNN), has again postponed the opening of its Wynn Palace casino resort in Macau to August. The opening of the $4 billion hotel project in Macau, the gambling hub in China, was initially planned on March 25, but was later dropped due to construction delays.... PepsiCo Inc., (PEP) Monday confirmed that it would bring back the Diet Pepsi with aspartame in the US stores in September, one of the latest efforts by the beverage giant to boost its slowing sales. The company said it would continue to sell sucralose-sweetened Diet Pepsi, which was launched last...
comments powered by Disqus
Follow RTT