Goodyear Offering to Go at $33 Per Share

(Akron/Tire Review) Goodyear has confirmed that it has set $33 as the per share price for its public offering of 22.7 million shares of common stock. The offering will close on May 22, Goodyear said. In addition, Goodyear said it has granted the underwriters a 30-day option to purchase up to 3,409,091 additional shares of common stock to cover any over-allotments. The tyremaker plans to use the proceeds – expected to be $725 million – to retire existing bank loans and for “general corporate purposes.”