Tuesday, Louisiana-Pacific Corp. (LPX) closed a public offering of 18 million shares of its common stock at an offering price of $6.75 per share. The company granted the underwriters a 30-day option to purchase up to 2.7 million additional shares which was exercised on September 24. The company announced that the net proceeds of the offering amounted to approximately $132 million, including $17 million associated with the option.
Upon the closing of this offering, the company instructed the Trustee to issue an irrevocable notice on September 30 to the holders of its 13% Senior Secured Notes due 2017 to redeem $131.25 million principal amount at maturity of such notes on October 30. This notice is pursuant to a provision in the indenture governing the notes that permits the company to use all or a portion of the net cash proceeds of an equity offering to redeem the notes at a redemption price equal to 113% of the accreted value for a total of approximately $112.6 million plus accrued and unpaid interest.
Louisiana-Pacific Corp., together with its subsidiaries, engages in manufacturing and distributing building products for new home construction, repair and remodeling, manufactured housing, and light industrial and commercial construction. The company operates in three segments: Oriented Strand Board, Siding, and Engineered Wood Products.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.