Linwood, Pennsylvania - Foamex International Inc has set 20 June 2008 as the date of its previously announced rights offering, the company has announced in a statement.
The company will issue to each common stockholder of record (other that certain equity-holders) a non-transferable right to purchase 7.132 shares of common stock for each share of common stock owned by such holder on the record date, the company said. The purchase price of shares of common stock in the rights offering will be $0.65 per share.
Foamex said that the rights offering is expected to commence the week of 23 June, although no assurance can be given as to the exact timing of the offering. Stockholders who hold their rights through a bank, broker, or other nominee will receive the rights materials via those channels.
Under normal settlement procedures, the company that shares purchased after the close of trading on 17 June are not likely to be settled by the 20 June record date.