Article: Ferro Closes Common Stock Offering


Wireless News
11-11-2009
Ferro Closes Common Stock Offering
Type: News

Ferro announced that it has closed on its previously announced common stock offering.

The total number of shares sold was 41,112,500, including 5,362,500 shares issued in connection with the exercise of the underwriters' over-allotment option to purchase additional shares.
Ferro said it intends to use up to $50 million of the net proceeds from the offering to pay the costs associated with its restructuring programs and strategic initiatives. Ferro will use the remaining net proceeds to reduce borrowings under its credit facility and pay fees and ...

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