Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 19, 4:27 AM
This Slide: #286 of 620 |
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
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Strong Buy (3.50 out of 4) 100th percentile
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