Encore Capital Group, Inc. Announces the Closing of Stock Offering by Selling Stockholders
Encore Capital Group, Inc. (Nasdaq: ECPG) today announced the closing of the previously announced underwritten public offering of 2,454,734 shares of its common stock by JCF FPK I LP, Red Mountain Capital Partners II, L.P. and Red Mountain Capital Partners III, L.P., at a price to the public of $26.00 per share. The Company did not receive any proceeds from the sale of the shares by the selling stockholders.
Immediately after the closing, the selling stockholders owned, in the aggregate, 6,739,186 shares of common stock, or approximately 28% of the Company's outstanding shares. The selling stockholders' representatives intend to continue to serve on the board of directors of the Company.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.