Business news : Jarden Raises Nets $700 Million in Stock Offering

Jarden Corp. raised approximately $687.7 million with its public offering of 15 million shares of common stock priced at $47 a share.

The owner of Coleman, K2, Marmot, Rawlings and more than a dozen other sporting goods brands, said it also granted of an option to underwriters for a period of 30 days to purchase up to an additional 2.25 million shares. If the underwriters' option to purchase additional shares is exercised in full, the aggregate net proceeds to Jarden are expected to be $781.4 million.

Jarden intends to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the previously announced acquisition of Yankee Candle Investments LLC ("Yankee Candle"). If the acquisition of Yankee Candle is not completed, the company intends to use the net proceeds from the offering for general corporate purposes, which could include other acquisitions.

Barclays Capital Inc. acted as lead book-running manager, and Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey, Inc. acted as joint book-running managers for the offering.

Press release through sportsonesource