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M/I Homes reports that it will price a public offering of common stock
Citigroup, J.P. Morgan assist; deal funds general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 5 - M/I Homes, Inc. said it plans to price a public sale of 2.2 million common shares with a greenshoe of an additional 330,000 shares.
The company also said it will price $50 million of convertible senior subordinated notes due 2017, with a $7.5 million greenshoe.
Citigroup and J.P. Morgan are the joint bookrunning managers for both the stock offering and the notes offering.
Proceeds from both offerings will be used for general corporate purposes, which may include land acquisitions, land development, home construction, capital expenditures, working capital, debt repayment and other related purposes.
M/I Homes is a Columbus, Ohio-based home builder.
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