Stock Offerings: MF Global

NEW YORK (TheStreet) -- MF Global (MF) shares plunged Wednesday after the futures and options broker announced a $150 common stock offering.

MF Global shares dropped 12% to $6.68 after the company filed for the offering. Underwriters have a 30-day option to purchase up to an additional $22.5 million in shares of its common stock, MF Global said.

MF Global said it will use the net proceeds from the offering to pay all fees and expenses that it incurs in connection with its proposed exchange offer for certain of its outstanding preferred and debt securities. MF Global may also elect to use all or a portion of the proceeds for the payment of a cash premium related to the exchange offer.

Elsewhere, Ladenburg Thalmann Financial (LTS) said it will raise $14 million in a private placement transaction. Ladenburg will issue 14 million shares of common stock at $1 per share. Investors include entities controlled by Dr. Samuel Yin, Chairman and Chief Executive Officer of Ruentex Group, a diversified conglomerate in Taiwan.

Ladenburg Thalmann shares were sliding 3.4% to $1.43 following the announcement.

Digital Realty Trust (DLR) filed for a 4.25 million share common stock offering. Underwriters were granted an option to purchase up to an additional 637,500 shares of common stock to cover over-allotments, if any.

Digital Realty said net proceeds from the offering will be used to fund a portion of the $725 million acquisition of a five-property data center portfolio currently owned by Rockwood Capital. Digital Realty shares were down 1.8% to $55.29 on the offering announcement.

Republic First Bancorp (FRBK) announced late Tuesday a proposed public offering of common stock of up to $30 million. Net proceeds will be used for general corporate purposes, which may include implementing retail and rebranding strategies, improving branches and adding branch locations, and funding loans, Republic First said. Shares were unchanged at $2.83 following the offering announcement.

Yuhe International (YUII) said in a regulatory filing that the company may offer up to $40 million of common stock from time to time in one or more offerings. The Chinese poultry company said any net proceeds will be used for capital expenditures, possible future acquisitions, and general corporate and working capital purposes. Shares were fractionally lower at $8.97.

Meanwhile, Penn Virginia GP Holdings (PVG) said it has priced a secondary offering of 8.82 million common units at $16.08 per unit, although the company said it will not receive any of the proceeds from the offering. Still, shares were down 5.6% to $16.18.

Similarly, Nu Skin Enterprises (NUS) filed for a 4.46 million share common stock offering by selling shareholders. Nu Skin will not receive any of the proceeds from the sale of the shares, although shares were falling by 4.8% to $26.69 on the announcement.

-- Written by Robert Holmes in Boston.

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