Dixie Group Prices Public Stock Offering
Chattanooga, TN, May 15, 2014 -- The Dixie Group said it has priced a public offering of 2.5 million shares of its common stock for gross proceeds of $26.6 million.
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Dixie has also granted the underwriters an option for 30 days to purchase up to an additional 375,000 shares.
Dixie said it expects to use the net proceeds for general corporate purposes and to reduce the balance under its revolving credit facility, which includes borrowings associated with the recent acquisition of Atlas Carpet Mills.