Harman International (HAR) Prices 10.7M Shares at $18.75
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Harman International (NYSE: HAR) announced that the public offering of 10,667,000 shares of its common stock has priced at $18.75 per share for gross proceeds of $200 million.
HAR closed at $19.25 yesterday.
The offering includes a 30-day option for the underwriters to purchase up to 1,600,050 additional shares to cover overallotments, if any.
Harman International intends to use the proceeds from the offering to improve its liquidity and to reduce indebtedness under its revolving credit facility, as well as for general corporate purposes, including potential future business acquisitions.
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