Express (EXPR) Prices 16 Million Share Offering at $20/Share
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On December 8, 2011, Express, Inc. (NYSE: EXPR) announced the pricing of the offering of 16,000,000 shares of its common stock by certain stockholders at a price of $20.00 per share. The underwriters have an option to purchase up to an additional 2,400,000 shares of Express' common stock from the selling stockholders. Express will not receive any proceeds from the offering. The offering is expected to close on or about December 14, 2011, subject to customary closing conditions.
Shares of EXPR closed down 4.8 percent on December 8th and is trading down another $0.10 in the pre-market hours today to $20.25.
BofA Merrill Lynch, Barclays Capital, Morgan Stanley and Piper Jaffray are acting as joint book-running managers for the proposed offering.
Shares of EXPR closed down 4.8 percent on December 8th and is trading down another $0.10 in the pre-market hours today to $20.25.
BofA Merrill Lynch, Barclays Capital, Morgan Stanley and Piper Jaffray are acting as joint book-running managers for the proposed offering.
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