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From The Opalesque Team:

On Wednesday Fortress Investment Group announced plans to raise an additional $125m through a public offering of Class A shares. The firm's announcement included the notation that Fortress principals will not sell shares in connection with the offering but anticipate purchasing approximately 10% ($25m) of the shares involved.

During an October meeting with investors Fortress CEO Wesley Edens joked that if Fortress shares fell below $1 he would institute a hostile takeover of his own company. When shares finally fell below $1 in early 2009 and then quickly doubled with speculation the group might opt to go private again.

Fortress announced during its quarterly earnings report in early May a loss of $287m and briefly discussed a $2bln mandate that the fund was anticipating finalizing (the call occurred during a quiet period regarding this mandate). See previous Opalesque coverage of Fortress 1Q09 earnings call here: Source.

"The Company intends to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its credit agreement, and the remainder for working capital and other general corporate purposes, which may include investments as the general partner in Fortress Funds," The private equity/hedge fund firm said in a statement.

The firm's common stock declined to below $1 per......................

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