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Article: Avatar Announces Closing of Over-Allotment Option.
- Article from:
- Investment Weekly News
- Article date:
- October 24, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Avatar Holdings Inc. (NASDAQ:AVTR) announced the closing of the sale of an additional 264,391 shares of its common stock at a public offering price of $18.00 per share pursuant to the underwriter's partial exercise of its option to purchase additional shares of common stock. The option was granted in connection with the Company's underwritten public offering of 2,250,000 shares of common stock at a price of $18.00 per share, which closed on September 28, 2009. The partial exercise of the option resulted in net proceeds of $4.5 million, bringing the total net proceeds of the offering to approximately $42.2 million. The Company ...
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