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Article: Hubbell Announces Public Offering of Class B Common Stock.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 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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Hubbell Incorporated (NYSE: HUBA, HUBB) announced its intention to offer, subject to market and other conditions, 2,600,000 shares of its Class B common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"). In connection with the offering, Hubbell expects to grant the underwriters an over-allotment option for a period of 30 days to purchase up to an additional 390,000 shares of Class B common stock.
Hubbell intends to use the net proceeds of the offering for general corporate purposes, including the repayment of approximately $66 million in short-term commercial paper borrowings which ...
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