(Reuters) - Kansas City, Missouri-based NovaStar said MassMutual
Capital Partners LP and Jefferies Capital Partners IV LLC have
bought $48.8 million of convertible preferred stock and have
committed to invest up to $101.2 million in a subsequent rights
offering.
NovaStar will also distribute $157 million in preferred
securities as a dividend. The company also plans a one-for-four
reverse stock split.
Read more at Reuters.com Mergers News
Capital Partners LP and Jefferies Capital Partners IV LLC have
bought $48.8 million of convertible preferred stock and have
committed to invest up to $101.2 million in a subsequent rights
offering.
NovaStar will also distribute $157 million in preferred
securities as a dividend. The company also plans a one-for-four
reverse stock split.
Read more at Reuters.com Mergers News
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