Lithia Motors (LAD) Announces Public Offering of 4M Shares

Lithia Motors, Inc. (NYSE: LAD) announced a public offering of 4M shares of Class A common stock. The Company also intends to grant to the underwriters for the public offering a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments, if any.

Lithia is a Fortune 700 Company, selling 27 brands of new and all brands of used vehicles at 88 stores, which are located within 13 states. The Company plans to use the net proceeds of the offering for general corporate purposes, including working capital and potential acquisitions.