Elizabeth Arden Tenders 2.5 Million Shares
Last month, Elizabeth Arden offered about 2.5 million common shares at $19.50 a share. Arden will use the money to reduce borrowing. Affiliates of food and personal care product company Unilever NV sold about 2.3 million of the shares, representing the remaining shares of common stock underlying Elizabeth Arden’s outstanding Series D convertible preferred stock. The company said it sold an additional 231,793 shares through an over-allotment option.
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