Dixie Group Plans Public Stock Offering
Chattanooga, TN, May 12, 2014 -- The Dixie Group said it plans to make a public offering of 2,500,000 shares of its common stock.
In connection with the offering, the company intends to grant the underwriters an option for 30 days to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any.
The company 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.
Wells Fargo Securities and Raymond James are joint book-running managers for the offering.