Delphi Proposes $2B Stock Offering

Law360, New York (March 8, 2007, 12:00 AM EST) -- Delphi Corp. has filed a registration statement with the U.S. Securities and Exchange Commission which would raise nearly $2 billion from current stockholders to help fund the bankrupt auto parts maker’s reorganization plan.

The filing details an offer of 56,700,000 shares of common stock at $35 per share as part of a $3.4 billion bailout plan reached between Delphi and its investors in January. Any shares remaining after the offering will be bought by the investors.

The filing is preliminary and the date when the offer...
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