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3 months ago
BRIEF-Stanley Black & Decker Inc announces equity units offering
May 11, 2017 / 11:04 AM / 3 months ago

BRIEF-Stanley Black & Decker Inc announces equity units offering

May 11 (Reuters) - Stanley Black & Decker Inc:

* Stanley Black & Decker Inc announces equity units offering

* Stanley Black & Decker- says intention to offer to sell, 6.5 million equity units, each with a stated amount of $100

* Stanley Black & Decker Inc - intends to use a portion of net proceeds of offering to purchase options on common stock from counterparties

* Stanley Black & Decker- expects units will initially consist of aggregate of 650,000 shares of 0% series c cumulative perpetual convertible preferred stock

* Stanley Black & Decker Inc - expects to grant to underwriters an option to purchase up to an additional 975,000 units to cover over-allotments

* Stanley Black & Decker Inc - common stock is expected to be delivered upon settlement of purchase contracts in may 2020 Source text for Eikon: Further company coverage:

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