Rights Offerings and Sears Canada – The Facts

Sears Holdings Corporation’s previously announced the rights offering of Sears Canada Inc. (“Sears Canada”) common shares expires today, November 7, 2014.  We announced in the estimated third quarter 2014 update we released in our Form 8-K filing this morning that, as the close of business yesterday, we have sold a total of 31,578,464 common shares of Sears Canada, realizing gross proceeds of approximately $300 million (including about $30 million in transit).  Below is some background … Continue Reading »

Sears Holdings Provides Update

On November 7, 2014, we filed an 8-K with the Securities and Exchange Commission (“SEC”) in connection with our rights offering for up to $625 million of Senior Unsecured Notes with Warrants. We encourage investors to read the Form 8-K in its entirety, including the cautionary language regarding forward looking statements contained in the filing, because it includes information which may be important to investors. You can find the filing on www.sec.gov at the following link. Below is some … Continue Reading »

Funding Our Transformation & Leveraging our Real Estate Assets

sears_wholefoods

Today Sears Holdings announced that it will be bringing in up to $625 million of cash through a rights offering of senior unsecured notes with warrants. ESL, the company’s largest shareholder with a 48.5% equity ownership stake, has indicated that it intends to participate in the rights offering for its pro-rata share of approximately $303 million … Continue Reading »