"Hovnanian Enterprises, Inc. Announces Proposed Public Offering of Class A Common Stock"

"Hovnanian Enterprises, Inc. announced today the commencement of a registered underwritten public offering of Class A Common Stock. The offering is anticipated to consist of the issuance of 25,000,000 shares of the Company's Class A Common Stock. [...] The Company intends to use the net proceeds of the offering to purchase certain of the Company's senior unsecured notes in a private transaction and for general corporate purposes, including the refinancing, repurchase or repayment of indebtedness, working capital needs, capital expenditures and expansion of the business."

Good for the long bonds short stock trade...