Banking, finance, and taxes
Fortress Files For $1 Billion Securities Shelf (FIG)
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Fortress Investment Group, LLC (NYSE: FIG) has filed a shelf registration to offer as much as $1 billion in mixed securities. It lists Class A shares, preferred shares, depository shares, warrants, subscription rights, purchase contracts, and purchase units as the combination of securities it can sell. Fortress plans to use the proceeds for working capital and other general corporate purposes, which may include the repayment or refinancing of debt. No underwriters were named. Fortress is down over 16% today at $11.25, and its 52-week trading range is $8.38 to $24.73. Its current market cap is $1.06 billion.
Jon C. Ogg
September 26, 2008
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