Jarden Prices Upsized Stock Offering

(RTTNews) - Jarden Corp. (JAH) on Wednesday announced the upsizing and pricing of the previously announced underwritten public offering of 11.6 million shares of its common stock.

The size of the offering has been upsized to 15 million shares of its common stock and priced at $47.00 per share.

The offering is expected to close on September 10.

The company has granted an option to the underwriters for a period of 30 days to purchase a number of shares up to 15% of the upsized offering.

After deducting underwriting discounts and commissions and other estimated offering expenses, Jarden expects to receive net proceeds of $678.7 million, or $781.4 million if the underwriters exercise in full their option to purchase additional shares.

Jarden expects to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the recently announced acquisition of Yankee Candle Investments LLC.

The offering is not conditioned on the closing of the acquisition of Yankee Candle. If the acquisition of Yankee Candle is not completed, the company plans to use the net proceeds from the offering for general corporate purposes.