Fortress Investment (FIG) Prices 40M Shares at $5
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Last night, Fortress Investment Group LLC (NYSE: FIG) announced the pricing of its follow-on public offering of 40,000,000 Class A shares at a price of $5.00 per share, raising gross proceeds of $200 million.
Shares of FIG closed at $5.26 per share yesterday.
The Company intends to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its credit agreement, and the remainder for working capital and other general corporate purposes, which may include investments as the general partner in Fortress Funds.
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