H&R BLOCK raises $145 million of capital through common stock offering
KANSAS CITY, Mo. ─ H&R Block, Inc. (NYSE: HRB) announced today that it has entered into subscription agreements with selected institutional investors to sell approximately 8.3 million shares of its common stock, without par value, at a price
of $17.50 per share in a registered direct offering. The Company expects gross proceeds of nearly $145 million, before deducting placement agentís fees and other offering expenses. The Company intends to use the net proceeds from this offering to enhance capital and maintain financial flexibility. The offering is expected to close on or about Oct. 27, 2008, subject to customary closing conditions.
The shares of common stock are being offered by the Company pursuant to a shelf registration statement which was filed with the Securities and Exchange Commission and became effective on Oct. 22, 2008. A prospectus supplement describing the terms of the offering will be filed with the Securities and Exchange Commission and forms part of the effective Registration Statement.
Lazard Capital Markets LLC served as sole placement agent for the offering. The shares of common stock may be offered only by means of a prospectus. Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commissionís website at www.sec.gov or from Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, New York, 10020.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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