Lithia Motors (LAD) Announces Proposed $1B Share Common Offering
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Lithia Motors & Driveway (LAD) Announces Proposed Public Offering Of Common Stock
May 18, 2021 4:36 PM EDTMEDFORD, Ore., May 18, 2021 /PRNewswire/ -- Lithia Motors & Driveway (NYSE: LAD) today announced that we intend to offer, subject to market and other conditions, $1 billion of shares of our Class A common stock (the "common stock") in a public offering (the "Offering"). In addition, we intend to grant the underwriters a 30-day option to purchase up to an additional $150 million of shares of common stock. Lithia intends to use the net proceeds of the Offering for general corporate purposes, which may include financing possible acquisitions, repaying or refinancing debt, working capital and capital expenditures.
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