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.

Stock Offering to Raise $79.1 million for Penn National

Penn National Gaming's public offering of 4 million shares will sell for $30.50 per share, the company announced today. The net proceeds of about $79.1 million from the offering will be used to repay debt.

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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