Published on 9/13/2006 in the Prospect News PIPE Daily.
New Issue: Kimball Hill wraps $110 million private placement of stock
By Sheri Kasprzak
New York, Sept. 13 - Kimball Hill, Inc. settled a $109,999,890 private placement with Equity Investments III, LLC and a subsidiary of Residential Funding Corp.
The company sold 952,380 shares at $115.50 each.
Proceeds from the offering will be used to reduce outstanding borrowings under its 2005 credit agreement and to redeem up to 330,000 common shares from current and former directors and officers.
Based in Rolling Meadows, Ill., Kimball Hill builds single-family houses, townhouses and condominiums.
| Issuer: | Kimball Hill, Inc.
|
| Issue: | Stock
|
| Amount: | $109,999,890
|
| Shares: | 952,380
|
| Price: | $115.50
|
| Warrants: | No
|
| Investors: | Equity Investments III, LLC and a subsidiary of Residential Funding Corp.
|
| Settlement date: | Sept. 12
|
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