Las Vegas Sands Stock Offering 11/11/08

Las Vegas Sands ( LVS ) just announced the price of their common stock offering...LVS stock is falling on this news:

Las Vegas Sands ( LVS ) announced today the pricing of its public offering of 181,818,182 shares of common stock, 5,196,300 shares of its 10% Series A Cumulative Perpetual Preferred Stock and warrants to purchase an aggregate of approximately 86,605,173 shares of common stock at an exercise price of $6.00 per share. The common stock has a public offering price of $5.50 per share. Units consisting of one share of Series A preferred stock and one warrant to purchase 16.6667 shares of common stock will be purchased at a public offering price of $100 per unit. The shares of Series A preferred stock and warrants are immediately separable and will be issued separately. The Series A preferred stock will be redeemable on or after November 15, 2011, at our option in whole or in part at a price of $110 per share plus any accrued and unpaid dividends.

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