Icahn Enterprises to sell up to $400 mln worth of shares (updated)

Icahn Enterprises LP

26/08/2024 15:19

(Adds background and details throughout)
       Aug 26 (Reuters) - Billionaire investor Carl Icahn's
firm Icahn Enterprises  IEP.O  has filed to sell up to $400
million depository units through an "at-the-market" offering
program, the company said in a regulatory filing on Monday,
sending its shares down nearly 3%. 
    It intends to use any net proceeds from the offering to fund
potential acquisitions and for company purposes. 
    Icahn and his company last week settled charges with U.S.
regulators that for years he failed to disclose pledging the
majority of the firm's securities for billions in personal
margin loans. They together agreed to pay $2 million in
penalties.    
    Icahn Enterprises is still at loggerheads with short-seller
Hindenburg Research, which last year accused Icahn of running a
"Ponzi-like" scheme to pay dividends by overvaluing its holdings
and also raised questions about Icahn's margin borrowing.
    Jefferies is acting as sales agent by handling the share
sale program for Icahn Enterprises, according to a separate
statement. 
    
    
    
    

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))