The Motley Fool Discussion Boards

Previous Page

Stocks L / Lamar Advertising Company


Subject:  Secondary offering Date:  12/21/1998  8:59 AM
Author:  TMFSpirit Number:  3 of 8

-Lamar Advertising Company announced today that it entered into an underwriting agreement for the sale by the company of 6 million shares of its Class A Common Stock at a price to the public of $32.50. Net proceeds to the company from the sale are expected to be approximately $191 million. Lamar intends to use the proceeds to repay amounts outstanding under its credit facility. The sale is expected to close on Dec. 23, 1998.

TMF Spirit
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us