LAD - Lithia prices stock and debt offering
Lithia Motors (LAD) has priced its public offering of 3,181,819 Class A common shares at $220.00/share.Underwriters' over-allotment is an additional 477,272 shares.Closing date is October 5. In addition, the company has priced its private offering of $550M (upsized from $500M) of 4.375% senior notes due 2031.Net proceeds will be used for general corporate purposes, financing acquisitions, repaying or refinancing debt, working capital and capital expenditures.The private offering is expected to close on October 9.Previously: Lithia announces proposed of common stock and notes (Sept. 29)
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Lithia prices stock and debt offering