Dollar Thrifty finalises public offering of common stock

Car rental giant Dollar Thrifty Automotive Group has announced today that it has finalised its previously announced public offering of 5,750 shares of its common stock at a price to the public of $19.25 per share, and is offering the underwriters a 30-day option to purchase up to a further 862,500 shares of common stock .

The public offer resulted in total net proceeds to Dollar Thrifty of about $105 million, after taking away underwriting discounts and commissions as well as other estimated offering expenses.  The company plans use the net proceeds from the offering for corporate and general purposes.

Companies acted as joint book-running managers for the offering include Goldman, Sachs & Co as well as J.P. Morgan Securities.

The shares had been offered pursuant to Dollar Thrifty’s effective shelf registration statement on file with the Securities and Exchange Commission, and the offering was made by means of prospectus and related supplement, which can be obtained by visiting the SEC’s website.