HB Meritage Wants Your $$$$
SCOTTSDALE, Ariz., April 16, 2008 (PRIME NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH - News), a leading U.S. homebuilder, announced today that it will file a preliminary prospectus supplement for a proposed public offering of up to 4,000,000 shares of common stock. All shares are being offered by Meritage Homes. The Company will grant the underwriters an option to purchase up to an additional 600,000 shares to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Meritage plans to use the proceeds received from this offering for working capital and other general corporate purposes.
IS THIS A JOKE????????????????????????????
We are talking about less than $100 million dollars even if the over allotment is granted. Last year MTH lost over $400 million pre tax.
Selling condititions are much worse this year than they were last year. Can you imagine what the language in the S-1 will say?
No wonder they give no assurance as to whether the offering may be completed. Didn't SPF try this nonsense a few months ago and we have hears nothing to date?
Banks are getting much tighter:
Talbots shares plunge as retailer confronts cash crunch after 2 banks cut off lines of credit
BOSTON (AP) -- Shares of Talbots Inc. plunged Wednesday after two banks decided to cut off their flow of credit to the women's apparel retailer, making it tougher to find cash as the chain tries to rebound from recent financial losses and store closures.
SPF has less than a month to convince its bankers to extend its line of credit...for the fifth time.