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ap

Avatar Holdings prices around 2.3M shares

Avatar Holdings prices around 2.3 million shares at $18 per share in public offering

  • On 3:51 pm EDT, Wednesday September 23, 2009

NEW YORK (AP) -- Avatar Holdings Inc., a real estate operator, said Wednesday it priced around 2.3 million shares at $18 per share in a public offering.

That's up from the previously announced size of 1.6 million shares.

Barclays Capital Inc. is the sole underwriter and has an overallotment option to buy an additional 337,500 shares.

The offering is expected to close Sept. 28.

Proceeds will be used for general corporate purposes and possible new acquisitions of real estate.

Shares of the company declined $1.03, or 5.4 percent, to $18.07.

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