|
Strong Buy (3.50 out of 4)
100th percentile
|
|
|
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 1:44 AM
Slide #286. Rexnord Corporation — Preferred Stock Offering
Company: |
Rexnord Corporation (RXN) |
Date announced: |
11/30/2016 |
Shares Offered: |
7,000,000 |
Date of Pricing: |
12/1/2016 |
Price Per Share: |
$50.00 |
Preferred Stock Offering Details: |
Rexnord Corporation (NYSE:RXN) today announced the commencement of an underwritten public offering of 7,000,000 depositary shares, each of which represents a 1/20th interest in a share of its Series A Mandatory Convertible Preferred Stock ("Mandatory Convertible Preferred Stock"). The underwriters of the offering have an option to buy up to 1,050,000 additional depositary shares to cover over-allotments. -updated 12/1- Rexnord Corporation (NYSE:RXN) today announced the pricing of its previously announced underwritten public offering of 7,000,000 depositary shares, each of which represents a 1/20th interest in a share of its 5.75% Series A Mandatory Convertible Preferred Stock ("Mandatory Convertible Preferred Stock"). The underwriters of the offering have an option to buy up to 1,050,000 additional depositary shares to cover over-allotments. The offering price is $50.00 per depositary share. The offering is expected to close on December 7, 2016, subject to customary closing conditions. |
Rexnord is engaged as an industrial company. Co. operates its business in two platforms: Process and Motion Control, and Water Management. Co.'s Process and Motion Control platform designs, manufactures, markets and services a range of mechanical components. Co.'s products and services are marketed and sold under brand names, including Rexnord®, Rex®, Addax®, Euroflex®, Falk®, FlatTop®, Cambridge®, Link-Belt®, Omega®, PSI®, Shafer®, Stearns®, Highfield®, Thomas®, Centa®, and Tollok. Co.'s Water Management platform designs, procures, manufactures, and markets products that provide and improve water quality, safety, flow control and conservation. Preferred: RXN.PRA
Open the RXN Page at Preferred Stock Channel »
Open the RXN Page at Preferred Stock Channel (in a new window) »
|
|