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Pinnacle Sets Stock Offer

The casino owner will sell 6 million shares.
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Casino owner

Pinnacle Entertainment

(PNK) - Get Pinnacle Entertainment Inc Report

plans to offer 6 million common shares under a shelf registration statement on file with the

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Securities and Exchange Commission


The Las Vegas-based company said Friday that it will grant the underwriters an option to buy up to 900,000 additional shares. Pinnacle expects to use the proceeds for general corporate purposes, for certain capital plans or to fund part of the construction costs of its St. Louis projects.

Lehman Brothers, Deutsche Bank Securities, Bear Stearns and Merrill Lynch are underwriting the offering.

Shares of Pinnacle were ticking up 10 cents to $25.58.