Citigroup, J.P. Morgan assist; deal funds general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 6 - M/I Homes, Inc. said it priced a $38.79 million public offering of stock with a $5.82 million greenshoe. The offering was announced Wednesday.
The company will sell 2.2 million common shares at $17.63 per share. The price per share is identical to the Sept. 5 closing share price. The underwriters have been granted an additional 330,000 shares to cover any over-allotments.
Citigroup and J.P. Morgan are the joint bookrunning managers.
Proceeds will be used for general corporate purposes, which may include land acquisitions, land development, home construction, capital expenditures, working capital, debt repayment and other related purposes.
M/I Homes is a Columbus, Ohio-based home builder.
| Issuer: | M/I Homes, Inc.
|
| Issue: | Common stock
|
| Amount: | $38,786,000
|
| Greenshoe: | $5,817,900
|
| Shares: | 2.2 million
|
| Price: | $17.63
|
| Warrants: | No
|
| Bookrunners: | Citigroup and J.P. Morgan
|
| Announcement date: | Sept. 5
|
| Pricing date: | Sept. 6
|
| Stock symbol: | NYSE: MHO
|
| Stock price: | $17.63 at close Sept. 5
|
| Market capitalization: | $335.58 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
