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Toll Brothers Announces Pricing Of Common Stock Offering

Stocks in this article: TOL

HORSHAM, Pa., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (the "Company") (NYSE:TOL), announced today that it has priced a public offering (the "Offering") of 6,250,000 shares of its common stock, par value $0.01 per share, at a price to the public of $32.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares from the Company. The Offering is expected to close on or about November 14, 2013, subject to customary closing conditions.

Aspen Lodge at Anthem Ranch
Aspen Lodge at Anthem Ranch

The Company expects to use the net proceeds from the Offering to finance in part its proposed acquisition of Shapell Industries, Inc. ("Shapell").

Citigroup, Deutsche Bank Securities, SunTrust Robinson Humphrey, and RBS are acting as Joint Book-Running Managers in the Offering. PNC Capital Markets LLC is acting as Lead Manager in the Offering. Capital One Securities, Wells Fargo Securities, Comerica Securities, Piper Jaffray, Regions Securities LLC, SMBC Nikko, and TD Securities are acting as Co-Managers in the Offering.

The Offering is being made pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed by the Company with the Securities and Exchange Commission ("SEC") on Form S-3. You may obtain a copy of the preliminary prospectus supplement, the accompanying prospectus and the final prospectus supplement, when available, for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the Offering will arrange to send you any of those documents upon request by contacting Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146, Deutsche Bank Securities Inc. toll free at (800) 503-4611, SunTrust Robinson Humphrey, Inc. at (404) 926-5744, or RBS Securities Inc. toll free at (866) 884-2071.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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