Louisiana-Pacific Corp. (LPX) on Wednesday said it has priced a public offering of 18 million shares of its common stock at an offering price of $6.75 per share.
The company has granted the underwriters a 30-day option to purchase up to 2.7 million extra shares. The public offering is expected to close on September 28, 2009. Louisiana-Pacific plans to use the net proceeds from the offering to reduce debt by retiring up to 35% of its senior secured notes due 2017 and for general corporate purposes.
Goldman, Sachs & Co. is acting as the sole book- running agent, and UBS Investment Bank and RBC Capital Markets will act as co-managers for the offering.
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