MAUMEE, Ohio -- Dana Holding Corp. has announced that Goldman, Sachs & Co., as representative of the underwriters in Dana's recent common stock offering, has exercised the option to purchase 5,083,100 additional shares of Dana common stock. The sale of the option shares closed Oct. 6. The net proceeds to Dana are approximately $32.6 million.

In connection with Dana's common stock offering, which closed on Sept. 29, the underwriters were granted a customary 30-day option to purchase up to 5.1 million additional shares of common stock.

"We are pleased that we have the opportunity to raise additional funds," said Dana CEO Jim Sweetnam. "We believe these additional proceeds will help provide continued flexibility for future growth and restructuring of operations."