logo
Share SHARE
FONT-SIZE Plus   Neg

Hovnanian Announces Proposed Public Offering Of Class A Common Stock

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A remarkable increase in smartphone adoption has more Americans depending on their mobile devices to access the internet. The last moments of the doomed Germanwings plane, that was deliberately hit to the Alps, was recorded in a mobile phone, German newspaper Bild and French Magazine Paris Match reported. The video is presumed to be taken from the cabin, using a mobile device. The investigators recovered the memory card from the crash site, though the mobile was destroyed completely. However, there is no official con US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing...
comments powered by Disqus
RELATED NEWS
Trade HOV now with 
Follow RTT