Pep Boys raises $99 mln in stock offer, to pay down debt

Newswire

NEW YORK, March 19 (Reuters) - Pep Boys - Manny Moe, & Jack , the auto parts retailer, said Friday it raised a net $99.4 million from a public offering of 4.25 million common shares. The Philadelphia-based company offered the shares at $24.75 each. It may offer an additional 396,464 shares to meet demand. Proceeds will be used to pay down debt and redesign stores. Goldman Sachs & Co., Morgan Stanley, Wachovia Securities and Advest arranged the offering, the company said. Pep Boys ...

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