Maumee-based Dana Holding Corp. has announced that it sold 34 million new shares and that its underwriters exercised an option to purchase 5.1 million additional shares of the company's common stock.
In all, the company had net proceeds of $32.6 million. The shares were sold at $6.75 each. The company's stock closed yesterday at $6.74.
The company said it used about half of the proceeds of the stock sale to pay down debt.