Sears Holdings Corporation (SHLD) announces that its rights offering is oversubscribed

Sears Holdings Corporation (SHLD) announced that its rights offering of 40mm common shares of Sears Canada Inc, which closed on 11/7, has been oversubscribed. Accordingly, Sears Holdings will receive aggregate gross proceeds of $380mm. Sears Holdings has received approximately $270mm in gross proceeds to date and expects to receive the remaining $110mm by 11/13. Source: Press Release