The Dixie Group, Inc. announced Wednesday that it has priced a public offering of 2,500,000 shares of its common stock, for gross proceeds of $26,625,000. The offering is subject to customary closing conditions and is expected to close on or about May 19.
In connection with the offering, the company has granted 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 from this offering 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.
The offering is being made pursuant to the company’s existing effective registration statement, previously filed with the Securities and Exchange Commission. The offering of these securities is being made only by means of a prospectus. Copies of the prospectus may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, telephone: (800) 326-5897, email: firstname.lastname@example.org or Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, telephone: (800) 248-8863, email: email@example.com.