Sears Holdings Corporation (SHLD) announced that the Company is planning to distribute to its stockholders one transferable subscription right for every 85.1872 shares of stock held as of 10/30. Each right entitles the holder to purchase one “unit” at a price of $500mm. Each unit includes: consisting of (a) a 8% senior unsecured note due 2019 in the principal amount of $500 and (b) 17.5994 warrants, with each warrant entitling the holder thereof to purchase one share of the Company’s common stock. Source: Filing
Rights Offering
