Edgen Group Inc. (EDG) said it is offering shares of Class A common stock. The company expects the initial public offering price to be between $14 and $16 per share.
Edgen noted that following the offering, it will have two classes of authorized common stock, Class A common stock and Class B common stock. Each share of Class A common stock will be entitled to one vote per share. Each share of Class B common stock will be entitled to one vote per share and will have no economic rights.
Further, the company said it has granted the underwriters a 30-day option to purchase up to an additional 2.25 million shares of Class A common stock at the public offering price, less the underwriting discounts and commissions, to cover over-allotments, if any.
by RTT Staff Writer
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