Printer Friendly

SCHULER HOMES INC. COMPLETES 4,500,000-SHARE COMMON STOCK OFFERING

SCHULER HOMES INC. COMPLETES 4,500,000-SHARE COMMON STOCK OFFERING
 HONOLULU, Hawaii, March 20 /PRNewswire/ -- Schuler Homes Inc. (NASDAQ/NMS: SHLR) announced today the initial public offering and trading of its common stock beginning March 20, 1992, on the NASDAQ National Market System under the trading symbol SHLR. The company sold 4,500,000 shares of its common stock at an initial public offering price of $15.50 per share. The company has agreed to sell up to an additional 675,000 shares in the offering upon exercise of an over-allotment option granted to the underwriters by the company.
 Montgomery Securities acted as manager of the underwriting group for the offering. The net proceeds of the offering will be used to purchase additional land inventory for residential development and to pay the company's principal stockholder a dividend declared prior to the offering. The balance of the net proceeds will be used for general corporate and working capital purposes.
 These securities are offered only by means of a prospectus, and this announcement is neither an offer to sell nor a solicitation of an offer to buy. A copy of the prospectus may be obtained by contacting:
 Montgomery Securities
 600 Montgomery St.
 San Francisco, Calif. 94111
 415-627-2000
 Attn: Syndicate Department
 Schuler Homes is one of the leading developers of affordably priced residential housing in Hawaii. The company's developments primarily consist of low-rise, multi-family homes, such as condominiums and townhomes, and to a lesser extent, single-family homes and residential lots.
 -0- 3/20/92
 /CONTACT: James K. Schuler of Schuler Homes Inc., 808-521-5661/
 (SHLR) CO: Schuler Homes Inc. ST: Hawaii; California IN: CST SU: OFR


RF -- SF002 -- 0022 03/20/92 10:29 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 20, 1992
Words:281
Previous Article:SEVEN LOCAL ITT SHERATON HOTELS UNITE TO KICK OFF 'HERE COMES ITT SHERATON...MAKING HISTORY AGAIN'
Next Article:GZA GEOENVIRONMENTAL TECHNOLOGIES ANNOUNCES THE ACQUISITION OF ALDERINK AND ASSOCIATES
Topics:


Related Articles
SCHULER HOMES INC. ANNOUNCES THIRD QUARTER 1993 FINANCIAL RESULTS AND AN INCREASE IN THE SIZE OF ITS SALT LAKE (OAHU) PROJECT
SCHULER HOMES, INC. FILES REGISTRATION STATEMENT TO OFFER 2,700,000 SHARES OF COMMON STOCK
Schuler Homes, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 1996
S&P Assigns Ratings to Schuler Homes Inc.'s Senior Notes.
D.R. Horton, Inc. and Schuler Homes, Inc. Announce $1.2 Billion Merger.
S&P: Schuler on CreditWatch Positive, Affirms Horton After Merger Plan.
D.R. Horton/Schuler Homes Base Merger Consideration Determined.
D.R. Horton/Schuler Homes Merger Completed.
D.R. Horton, Inc. Announces Stock Repurchase Activity.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters