Printer Friendly

STANDARD PACIFIC CORP. ANNOUNCES THE ISSUANCE OF SHARES OF COMMON STOCK

 STANDARD PACIFIC CORP. ANNOUNCES THE ISSUANCE
 OF SHARES OF COMMON STOCK
 COSTA MESA, Calif., March 17 /PRNewswire/ -- Arthur E. Svendsen, chairman of the board and chief executive officer of Standard Pacific Corp. (NYSE: SPF), announced today that Standard Pacific Corp. has commenced sales to the public of 3.0 million shares of its common stock at $11 per share pursuant to its previously announced public offering.
 The company expects to receive net proceeds from the stock offering of approximately $31 million after deduction of underwriting discounts and offering expenses. The company presently intends to use the net proceeds from the offering for the reduction of senior indebtedness.
 Prudential Securities Inc., Lehman Brothers and Oppenheimer & Co. Inc. are managing underwriters for the offering. The underwriters have been granted a 30-day option to purchase up to 450,000 additional shares from the company on the same terms to cover over-allotments.
 Standard Pacific Corp. operates primarily as a geographically diversified builder of medium-priced single family homes with operations throughout California and in the Houston and Dallas markets. In addition, Standard Pacific Corp. assists homebuyers in obtaining financing for home purchases through its wholly owned subsidiary, Standard Pacific Savings, F.A. The company is also engaged in the manufacture and marketing of moveable acoustical office partitions and office furniture through its wholly owned subsidiary, Panel Concepts.
 -0- 3/17/92
 /CONTACT: April J. Morris of Standard Pacific Corp., 714-668-4303/
 (SPF) CO: Standard Pacific Corp. ST: California IN: CST FIN SU: OFR


JL-EH -- LA001 -- 8615 03/17/92 08:15 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 17, 1992
Words:256
Previous Article:UROPLASTY ANNOUNCES APPOINTMENT OF PRESIDENT AND CHIEF EXECUTIVE OFFICER
Next Article:FANSTEEL DECLARES DIVIDEND
Topics:


Related Articles
EVERGREEN HEALTHCARE LTD. TO ACQUIRE CONTROLLING INTEREST IN NATIONAL HERITAGE, INC.
PRAIRIE PACIFIC ENERGY CORP. ANNOUNCES AGREEMENT WITH EURO SCOTIA FUNDING LTD. TO RAISE $3,000,000
STANDARD PACIFIC CORP. DECLARES QUARTERLY CASH DIVIDEND
Standard Pacific Corp. Declares Quarterly Cash Dividend
Standard Pacific Corp. Announces Letter of Intent to Acquire The Olson Company
S&P Assigns 'B' Rating to AES Corp. $400 Mil Pref Secs.
Standard Pacific Corp. Announces Conversion Information For Proposed Writer Merger.
Standard Pacific Corp. Announces Proration Information for Writer Merger.
Standard Pacific Corp. Declares 2 for 1 Stock Split and Quarterly Cash Dividend.
Standard Pacific Corp. Announces Results of Special Meeting of Stockholders.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters