Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (28357)	10/2/2007 1:15:48 PM
From: Madharry	Respond to of 78670

Oct 2 (Reuters) - Levitt Corp (LEV.N: Quote, Profile, Research), the parent company of troubled homebuilder Levitt and Sons, said it raised $153 million from its rights offering that could be used for various uses as it deals with a tough Florida housing market. Levitt said it could use proceeds to fund its home-building unit's negative cash flow but continued support of the unit's cash needs would be determined by the homebuilding market and the results of Levitt and Sons' talks with its lenders. Levitt and Sons is currently in discussions with its lenders to amend its credit lines to modify the timing and amount of payments due and to obtain financing to support its operations and projects. Levitt will be issuing more than 76 million shares of its Class A common stock in the rights offering. nice little chest