j.c. penney has revealed plans to raise additional capital through a new 84 million share stock offering.

" /> J.C. Penney Offering 84 Million Shares of Stock - JCK

J.C. Penney Offering 84 Million Shares of Stock

J.C. Penney has revealed plans to raise additional capital through a new 84 million share stock offering.

The stock will be priced at $9.65 per share. Proceeds will be used for “general corporate purposes,” the company said.

The offering is expected to close on Oct. 1, 2013.

Goldman Sachs serves as the sole book-running manager for the offering.

JCK News Director