Isle of Capri Casinos
said in a
Securities and Exchange Commission
filing Friday that it planned to sell 4 million shares.
The company plans to use the proceeds of the sale, underwritten by CIBC World Markets and Deutsche Bank Securities, to repay debt and for general corporate purposes including working capital. An additional 802,500 shares will be available to cover over-allotments.
Isle also registered to sale 1.35 million shares for shareholders, from which the company will not receive any proceeds.
Shares of Isle closed at $20.99 before the news Friday.