Harbinger Group has raised $400 million through a sale of convertible preferred stock. The initial sales for $280 million with a conversion price of $6.50 per share were completed in May. Additional sales for $120 million with a conversion price of $7.00 per share were concluded in August. The company intends to use the net proceeds for general corporate purposes, which may include acquisitions and future investments.
Click here for the release from PR Newswire.