EdR (EDR) Prices Boosted 15M Offering at $10.95/Share

August 14, 2012 8:44 AM EDT
EdR (NYSE: EDR) has priced its public offering of 15,000,000 shares of its common stock at a price to the public of $10.95 per share.

The offering was increased in size from the originally contemplated 13,500,000 shares of common stock. The Company has also granted the underwriters a 30-day option to purchase up to 2,250,000 additional shares of common stock, at the price to the public less the underwriting discount. Subject to customary conditions, the offering is expected to close on or about August 17, 2012. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $157.3 million (exclusive of the underwriters’ option to purchase additional shares). BofA Merrill Lynch and KeyBanc Capital Markets are serving as joint book-running managers for the offering.

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