By Adriano Marchese
KKR expects to raise up to $1.73 billion by way of a convertible stock offering to expand its investments.
The private-equity and investment company said Tuesday that it has begun an offering of 30 million shares of its series D mandatory convertible preferred stock to raise an initial $1.5 billion.
KKR also gave its underwriters an option to purchase up to an additional 4.5 million shares for $225 million to cover any over-allotments.
Each share of mandatory convertible preferred stock will have a liquidation preference of $50.00 apiece.
The company plans to use the new money to acquire more shares in core portfolio investments.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 04, 2025 09:40 ET (14:40 GMT)
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