-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
Is anyone here following this stock (LAMR)? I need some help in understanding what is keeping it up. It appears to me to have extremely weak financials and should be in single digits. Obviously I am missing something as it is trying to set new highs. I have made money shorting this in the past. I,m short now and questioning my position. Any help would be appreciated. fast eddie B
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