AKRON (May 22) — Goodyear closed its public offering May 22 of 26.1 million shares at $33 per share, netting about $834 million for debt reduction and general corporate purposes.
Goodyear announced its plans to offer 22.7 million shares May 10 plus an over-allotment option of another 3.4 million shares on May 18.
Goodyear said it will use the proceeds of the sale to retire $315 million in debt and other general corporate purposes.