Kennedy-Wilson Prices Underwritten Public Offering Of 6 Mln Shares At $18.50/shr

(RTTNews) - International real estate investment and services firm Kennedy-Wilson Holdings, Inc.(KW) said it priced its underwritten public offering of 6 million common shares at $18.50 per share. The offering is expected to close on September 13. The company has also granted a 30-day option for the underwriter to purchase up to 900,000 additional common shares.

Kennedy-Wilson said it expects to use the net proceeds from the offering for for general corporate purposes, including future acquisitions and co-investments, and to repay the $50 million outstanding balance under its unsecured revolving credit facility.

Deutsche Bank Securities is acting as the sole underwriter for the offering.