Hovnanian files $338 mln mixed shelf offering

Hovnanian files $338 mln mixed shelf offering
WASHINGTON, June 10 (Reuters) – Luxury home builder Hovnanian
Enterprises said on Friday that it may periodically sell up
to $338 million in debt securities, Class A common stock, depositary
shares, warrants, contracts, units and guarantees.
The company said it plans to use the proceeds from the shelf offering
for general corporate purposes, which may include working capital,
debt refinancing, business expansion and acquisitions.
The shelf registration statement, which was filed with the U.S.
Securities and Exchange Commission, includes another $162 million
of previously registered securities for a total of $500 million by
the company.
Under a shelf registration, a company may sell securities in one or
more separate offerings with the size, price and terms to be determined
at the time of sale.
06/10/05 17:24 ET