STRATOSPHERE PUBLIC OFFERING DECLARED EFFECTIVE; GRAND CASINOS ACQUIRES ONE MILLION STRATOSPHERE SHARES IN OFFERING.

Business Wire | December 19, 1995 | Copyright

MINNEAPOLIS--(BUSINESS WIRE)-- Dec. 19, 1995--Grand Casinos, Inc. (NYSE:GND) announced today that it has purchased one million shares of Stratosphere Corporation common stock at a price of $7.52 per share. Grand Casinos purchased these shares as part of Stratosphere's stock offering which was declared effective by the Securities and Exchange Commission today. Net proceeds to Stratosphere from the offering will be approximately $74.7 million. Following the offering, which is expected to close on Friday, December 22, Stratosphere will have approximately 55 million shares ...

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