Dixie Group prices public offering of shares at $26.625mn

15 May '14

1 min read

The Dixie Group, Inc. announced that it has priced a public offering of 2,500,000 shares of its common stock, for gross proceeds of $26,625,000. The offering is subject to customary closing conditions and is expected to close on or about May 19, 2014.

In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any.

The Company expects to use the net proceeds from this offering for general corporate purposes and to reduce the balance under its revolving credit facility, which includes borrowings associated with the recent acquisition of Atlas Carpet Mills.

Wells Fargo Securities and Raymond James are joint book-running managers for the offering.

The Dixie Group is a leading marketer and manufacturer of carpet and rugs to higher-end residential and commercial customers through the Fabrica International, Masland Carpets, Dixie Home, Masland Contract, Atlas and Avant brands.

The Dixie Group

More Dixie Group Inc News... More Textiles News - United States Of America...