| Lithia
offers 3 million sharesLithia Motors on
Friday announced the sale of 3 million newly issued shares of Class A common stock in a
public offering at $14.50 a share. The stock is traded on the NASDAQ exchange under the
symbol LMTR.
Lithia Motors, based in Medford, is a retailer of new and used vehicles in the Western United States, offering 21 domestic and imported makes of new cars and light trucks at 22 locations in California, Oregon and Nevada. The company is also an acquirer of auto dealerships in the West. Proceeds of the offering will be used primarily to acquire more dealerships and for other corporate purposes. A prospectus may be obtained from Furman Selz LLC, 230 Park Avenue, New York, NY 10169. The offering is scheduled to close Wednesday. |
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