Published February 6, 2017 7:45am EST | Updated February 6, 2017 9:04am EST

Icahn Enterprises Prices Rights Offering At $53.71 Per Newly Issued Depositary Unit

Icahn Enteprises LP , the investing arm of billionaire Carl Icahn, on Monday set the pricing for its previously announced rights offering. The company said each whole right will be priced at $53.71 and entitle the holder to one newly issued depositary unit of Icahn Enterprises. The company is intended to distribute the rights to record date unitholders on Feb. 9. Icahn Enteprrises stock was not yet active premarket, but has gained 16.9% in the last 12 months, while the S&P 500 has gained 22%.