19.96%SPY 79.52 
5.39%XLF 9.68 3.09%
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LAS VEGAS - Shuffle Master Inc., which makes casino machines, said Tuesday it priced its public offering of 17.6 million shares at $4.25 per share.
| SHFL | 3.09 |  0.2 |
Net proceeds are expected to be about $70.1 million. The company plans to use the funds, along with borrowing, to repurchase 1.25 percent contingent convertible senior notes. The Las Vegas-based company expects the offering to close on July 25.
The company granted the underwriters an overallotment option to purchase 2.6 million more shares. Proceeds would be about $80.8 million if the underwriters exercise that option.
Deutsche Bank Securities Inc., Wachovia Securities, KeyBanc Capital Markets and Brean Murray, Carret & Co. are serving as underwriters.
Shares rose 8 cents, or 2.5 percent, to $4.49 in morning trading.
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