February 11, 2004 1 min read

Avaya Raises $251 million in Stock Sale

Avaya sold 14,039,481 shares of newly issued common stock to Morgan Stanley, which reoffered the shares to the public at $17.85 per share. The size of the transaction was approximately $251 million. Avaya said it will use the net proceeds to redeem outstanding senior notes. http://www.avaya.com

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