Stock Offering

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Price Set for Magna Stock Offering, Stock Jumps

An offering of 20 million shares of Magna Entertainment (Nasdaq:MIEC) was priced at $6.65 Thursday through underwriters Bear Stearns. The update on the offering caused the company's stock to rise as much as 13.4 percent during trading on Friday.

Penn National Announces Record Fourth Quarter and Stock Offering

Penn National reported a record fourth quarter Monday with revenue climbing 48.1% and net income jumping 105.2%. The Pennsylvania racetrack and casino company also announced it will be offering 2.5 million in additional shares of common stock, which should generate about $74 million. Another 1 million shares will be offered at the same time by the Carlino Family Trust.

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