Less than a day after J.C. Penney Co. said it was “pleased” with its turnaround, the department-store chain announced a share offering to raise as much as $932 million and lowered its year-end liquidity forecast.
Goldman Sachs Group Inc. is running a sale of 84 million shares and underwriters will have a 30-day option to buy as many as 12.6 million shares, J.C. Penney said Friday in a statement. The price, $9.65, is 7.4 percent below Thursday’s closing.
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