PHILADELPHIA — Pep Boys has announced a public offering of 4,250,000 shares of common stock at a price of $24.75 per share. All of these shares will be sold by the company. Goldman, Sachs & Co., Morgan Stanley, Wachovia Securities and Advest, Inc. acted as representatives of the underwriters. The underwriters have a 30-day option to purchase an additional 396,464 shares of common stock from the company to cover over-allotments.
The transaction is scheduled to close on March 24, subject to the terms and conditions of the underwriting agreement. The net offering proceeds to the company, after the payment of expenses related to the offering, will be approximately $99.4 million, and will be used for repayment of borrowings and store redesigns
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