Hasbro nets $976M in stock offering

HASBRO reported that a net of $9756.1 million in a public offering of common stock closed Friday. / COURTESY HASBRO INC.
HASBRO reported that a net of $9756.1 million in a public offering of common stock closed Friday. / COURTESY HASBRO INC.

PAWTUCKET – Hasbro Inc. closed its most recent public offering, selling 10.6 million shares and raising $976.1 million, the company announced Friday.

The funds raised are intended to be used to finance the company’s pending $4 billion acquisition of Entertainment One Ltd, as well as pay related costs and expenses.

If the company does not end up consummating its deal to acquire eOne, the company said it will use the funds for stock buybacks or general corporate purposes.

The company made $875 million worth of stock available to the public in the offering and allowed the underwriters a chance to acquire up to $131.25 million in additional shares.

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