More Secondaries Hitting the Market (LAD, PZG, SVNT, GOL)

Investing

Published: October 9, 2009 8:26 am

Last Updated: March 10, 2020 6:56 pm

We have seen at least four different secondary offerings this morning, and there are some others that are pending to be priced for trading today. The offerings are from Lithia Motors Inc. (NYSE: LAD), Paramount Gold & Silver (AMEX: PZG), Savient Pharmaceuticals (NASDAQ: SVNT), and GOL Linhas Aereas Inteligentes SA (NYSE: GOL). Details on pricing and reactions are available below.

Lithia Motors Inc. (NYSE: LAD) priced a 4 million share secondary offering of common stock at $10.00 through J.P. Morgan and Stephens. Shares closed at $10.88 yesterday and the 52-week high is $16.49.

Paramount Gold & Silver (AMEX: PZG) is taking advantage of higher gold prices. The company priced a 16 million shares secondary offering of common stock at $1.25 through Dahlman Rose and Blackmont Capital.

Savient Pharmaceuticals (NASDAQ: SVNT) priced a 4.4 million share secondary offering of common stock at $13.29 per share in a sale through J.P. Morgan and Wedbush Morgan. The deal size was increased from 4M shares on what was believed to be higher demand, and this one closed at $13.29 yesterday.

GOL Linhas Aereas Inteligentes SA (NYSE: GOL) raised roughly $590 million in a GDR offering of 62.19 million shares at BRL 16.50 per share through Itau BBA, Morgan Stanley, Bradesco BBI, BB Investimentos, and Bank of America Merrill Lynch.

JON C. OGG
October 9, 2009

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