Federal-Mogul Announces Completion Of Rights Offering - aftermarketNews

Federal-Mogul Announces Completion Of Rights Offering

According to Federal-Mogul, subscription rights to purchase 51,124,744 shares of Federal-Mogul's common stock (the full amount of the offering) were exercised, resulting in gross proceeds of approximately $500 million to the company.

SOUTHFIELD, Mich. – Federal-Mogul Corp. has announced the completion of its common stock rights offering. The subscription period for the rights offering expired at 5 p.m., Eastern Daylight Time, on July 9, 2013.
 
According to Federal-Mogul, subscription rights to purchase 51,124,744 shares of Federal-Mogul’s common stock (the full amount of the offering) were exercised, resulting in gross proceeds of approximately $500 million to the company.
 
 

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