Associated Banc-Corp (NASDAQ:ASBC) said Monday that it is selling $400 million in common stock in a public offering, after it posted a $180.6 million loss for its fiscal fourth quarter.
The loss, totaling $1.41 per share, compares to a net gain of $13.6 million, or 11 cents, in the same quarter last year.
The company took $405 million in charges in the quarter due to delinquencies, non-performing loans and charge-offs.
The company is also slashing its dividend by 80 percent, to 1 cent per share.
Associated Banc-Corp shares are trading down about 8.9 percent on Monday.
Among other offerings announced today, Jarden Corp. (NYSE:JAH) said it will sell $400 million in senior subordinated notes.
Jarden plans to use the proceeds of the offering to pay down part of a term loan maturing in 2012, as well as for general corporate purposes.
Jarden also said today that it is raising its fourth quarter revenue outlook a bit, to $1.35 billion from $1.3 billion.
Jarden shares are trading up about 2.9 percent on Monday.
One more offering to tell you about this morning. Berry Petroleum (BRY) said today it will offer 7 million shares of common stock to fund its acquisition of privately held oil producing properties in Texas. Berry will pay $126 million for the west Texas properties, which will add 1,300 barrels per day to its production.
Berry Petroleum shares are trading down a little under 4.5 percent on Monday.
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