Toll Brothers, Inc. ( TOL ) announced the pricing of its public offering of 6.3 million shares of its common stock of 1 cent per share par value at a price of $32.00 per share. Citigroup of Citigroup Inc. ( C ), Deutsche Bank Securities of Deutsche Bank AG ( DB ), SunTrust Robinson Humphrey, and RBS are acting as lead book-running managers for the offering. The offeringis expected to close on Nov 14, 2013 and is subject to certain customary closing conditions. The latest capital raising initiative will help the company reduce the total debt burden under credit facilities to some extent. Further, the proceeds can be used for financing its proposed $1.6 billion acquisition of Shapell Industries, Inc. On Nov 6, Toll announced a definitive agreement to purchase the homebuilding business of Calif.-based home building company – Shapell Industries.