The Associated Press writes that on Tuesday, underwriters for DreamWorks Animation SKG Inc. set the terms of the company’s pending initial public offering at 29 million common shares, with an estimated price range of $23 to $25 a share. The company said it plans to retain about $175 million of the net proceeds from the IPO for general corporate purposes, including working capital, and will use the remaining net proceeds to repay all or a portion of the debt that it intends to assume from DreamWorks Studios in connection with its separation. DreamWorks Animation SKG Inc. is planning to list its common stock on the New York Stock Exchange under the symbol DWA.
DreamWorks IPO set at 29 million shares