Universal Files To Raise Cash (UVV)
Universal Corporation (NYSE: UVV) has filed an automatic shelf registration statement with the SEC that will allow it from time to time to sell securities. The leaf tobacco merchant and processor will be able to sell any combination of debt securities, preferred stock, common stock, warrants, stock purchase contracts, and units.
The use of proceeds will be for the generic “for general corporatepurposes” to include working capital expenditures, acquisitions,refinancing other debt or other capital transactions.
As with most automatic shelf registrations, no dollar terms wereindicated, no financial terms are mentioned, and no underwriters arenamed.
Universal has a market cap of $802 million, and shares are up 0.2% at$32.08 today. Its 52-week trading range is $30.15 to $68.04.
Jon C. Ogg
November 25, 2008