(RTTNews) -  Duff & Phelps Corp. (DUF: News ) announced that it has agreed to sell 2.5 million shares in an underwritten public offering of Class A common stock.

The company said the unit holders who elect to be paid with the proceeds will agree to a 90-day lock-up period after the date of the prospectus supplement for the offering.

The company also stated that the unit holders who elect not to be redeemed with the offering proceeds may exchange their units for an equal Class A common shares on November 16.
The company intends to use offering net proceeds to redeem certain of the units in Duff & Phelps Acquisitions, LLC that are held by existing unit holders.

Click here to receive FREE breaking news email alerts for Duff & Phelps Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com