ALD

What's up with Yahoo not posting sec filings immediately?

I guess I'm spoiled because Yahoo usually has the most valuable finance site on the web. The Yahoo message board prompted me to do some research on the ALD website. Under "Investor Resources" there is a link to "sec filings". It seems that the stock dropped because of a private offering of 4,500,000 shares. Page s-3 of the sec filing of 7/19 (the original was 7/17) says:

"We estimate that our net proceeds from the sale of the 4,500,000 shares of common stock we are offering will be approximately $118.1 million"

$118.1/4.5= $26.24
sales fees are $1.098/share (4% isn't that high)
So that puts the private offering at market price.

I think this is a strong vote of confidence in ALD by Merrill Lynch, Banc of America, and Citigroup.

Also today, ALD announced a $250,000,000 note offering but did not disclose the interest rate.