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Levitt Completes Rights Offering

Shares rise 3.9%.
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Levitt

(LEV)

has completed its rights offering and will receive proceeds of more than $153 million in connection with the exercise of the rights by its shareholders.

As a result, Levitt, a builder of single and multi-family home communities and master-planned communities, will be issuing about 76.6 million Class A common shares.

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Proceeds will be used for general corporate purposes. Shares of Levitt were up 3.9% at $2.13 Tuesday.