Forestar Group (FOR) said Wednesday it has entered into an equity distribution agreement with a consortium of sales agents to sell up to $300 million in common stock from time to time.
Forestar will pay up to 2% of the gross sales price per share sold by the sales agents, according to a filing with the Securities and Exchange Commission.
Sales may occur on the New York Stock Exchange through broker transactions, block trades, or other arrangements, and Forestar may also sell shares directly to sales agents at negotiated prices.
Forestar said it has no obligation to sell shares under the agreement, and the company can suspend sales at any time, the company said in the filing.
Shares of Forestar were down 0.4% in recent Wednesday trading.
Price: 28.99, Change: -0.14, Percent Change: -0.48
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