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Based on the $15.07 closd of Columbus-based M/I’s stock on Monday, the proposes offering would be valued ataboutf $60.3 million. M/I said it plane to use proceedsfor “general corporats purposes.” The company said the offering’s underwritersd also have the option to buy an additional 600,00o shares. Selling the additional shares would boost the value of the offering to morethan $69 A group led by and is managin g the sale, the company said. News of the sale comes a few weekse after the homebuilder discloseda $28 million loss in the firsg quarter, up from a loss of $22 milliojn a year ago, even as home sales contracts jumpe d 20 percent from a year ago.
That came on the heelsx of a $250 million loss in 2008. Besides buildingt in Ohio, M/I (NYSE:MHO) also builds single-family houses and condominiumsin Florida, suburban Washington, Indianapolis, and Charlotte and N.C.
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