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Article: Hubbell Announces Pricing of 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 it has priced its public offering of 2,600,000 shares of its Class B common stock at $43.00 per share. The offering is expected to close on or about November 3, 2009. In connection with the offering, Hubbell granted 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.
After deducting underwriting discounts and commissions, Hubbell Incorporated will receive proceeds of approximately $106.5 million. Hubbell intends to use the net proceeds of the offering for general corporate purposes, including the repayment of approximately $66 ...
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