Forestar closes tangible equity units offering

Forestar Group Inc.

Forestar Group Inc. (NYSE: FOR) reports the closing of its previously announced underwritten public offering of 6 million 6.00% tangible equity units, resulting in net proceeds to the company of approximately $144.8 million. The closing of the offering includes the full exercise by the underwriters of their option to purchase additional units.

The company intends to use the net proceeds from the offering for general corporate purposes, including investments in strategic growth opportunities.

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