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Gray Public Offering Raises $250 Million

Gray Television said Wednesday it completed its previously announced public offering of 17.25 million shares of its common stock at $14.50 per share. Gross proceeds were approximately $250.1 million. It said it will use the money “for general corporate purposes, and such net proceeds may be used from time to time for, among other things, repayment of outstanding debt, capital expenditures, the financing of possible future business expansions and acquisitions, increasing our working capital and the financing of ongoing operating expenses and overhead.”

By Staff | December 6, 2017 | 11:38 a.m. ET.
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Ron Burrus says:

December 6, 2017 at 11:46 am

Proves that P.T. Barnum was right – there’s a sucker born every minute.

Cheryl Thorne says:

December 6, 2017 at 1:01 pm

Exactly CowboyBob. This is a company leadership of C students at best, and a stock price that can barely get back to its level 2 years ago..The Nasdaq has grown 35% in the past 2 years..this company’s stock is not even flat. This is going to be about simple Economics..The only thing that matters is Supply and Demand and clients wont have Demand for this companies Supply. It will be a $10 stock a year from now at best

Snead Hearn says:

December 6, 2017 at 1:33 pm

Use the money for corporate purposes…. You had better pay down debt and just for jokes take an honest look at your financials and run some liquidity ratios….