Conseco Secondary Hits After-Hours (CNO)

Posted in after-hours 
December 16th, 2009

Conseco, Inc. (NYSE: CNO) is holding up fairly well on a discounted secondary offering price.  The company priced its public secondary offering of 45,000,000 shares of common stock at $4.75 per share to raise approximately $202.4 million.  It will use $150 million plus 50% of the net proceeds in excess of $200 million to repay debt under its senior credit agreement, as required; the remaining net proceeds for general corporate purposes. At 5:47 PM EST we have shares down 3.3% at $4.97 on fairly light after-hours trading activity.


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