M/I Homes trying to raise more than $50M for land acquisition ...

M/I Homes Inc. said Wednesday that it wants to use a pair of offerings to raise more than $50 million for general corporate purposes such as buying land and building homes.

The offerings would help bolster M/I?s cash on hand to nearly $150 million, up from about $57 million, according to documents filed with the Securities and Exchange Commission.

The company says it will use the offerings for ?general corporate purposes,? such as land acquisition, development, home building or repaying debt,?

Source: http://www.verticallivingorlando.com/2012/09/05/mi-homes-trying-to-raise-more-than-50m-for-land-acquisition-development/

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