Meritage Secondary Discounted (MTH)

Meritage Homes Corporation (NYSE: MTH) priced offering of 4 million common shares at $20.50 per share after market close yesterday.

The proceeds to the homebuilder from the $82 million offering will be used for working capital and general corporate purposes. Citi is the sole book-running manager granted 60,000 in over-allotments. The offering is expected to close April 23.

Shares are down over 2% today from $20.89 to $20.38. The 52-week range is $7.04 to $38.72.

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Rachel Lopez
April 18, 2008