Jarden rolls out common stock offering
After filing a shelf registration statement with the Securities and Exchange Commission, Jarden Corporation has announced an underwritten public offering of 11.6 million shares of its common stock, subject to market and other conditions.
If Jarden's recent deal with Yankee Candle goes through, the company expects to put a portion of the net proceeds from the offering toward the purchase price, though the offering doesn't depend on the acquisition. Should the deal fall through, Jarden will use proceeds for general corporate needs.
The company expects to grant underwriters a 30-day option to purchase up to 1.74 million additional shares of common stock.