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Dixie Group completes public offering of 2.5mn shares
21 May '14
1 min read
The Dixie Group, Inc. reported it has completed the previously announced public offering of 2,500,000 shares of its common stock.
Net proceeds from the offering will be used for general corporate purposes, and to reduce the balance under the Company’s revolving credit facility, including borrowings associated with the recent acquisition of Atlas Carpet Mills.
With closing of this transaction we now have secured the funds to pay off the Tranche B loan of $5.6 million, due June 30, 2014. Net of the Tranche B funding, availability under the Company’s revolving credit facility is in excess of forty million dollars.
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 Carpet Mills and Avant brands.
The Dixie Group
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