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Article: Ferro Announces Pricing of Common Stock Offering.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Ferro Corporation (NYSE: FOE) announced that it priced an offering of 35,750,000 shares of common stock at a public offering price of $5.60 per share. This offering is expected to close on November 6, 2009, subject to customary closing conditions. The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 5,362,500 shares of common stock at the public offering price less the underwriting discount to cover over-allotments, if any. Ferro expects to receive net proceeds of approximately $186.9 million from this offering (assuming no exercise of the underwriters' over-allotment option), after deducting underwriting discounts and estimated ...