Jarden to sell 12 million shares

Appliance and consumer products company Jarden Corp. said Tuesday it will sell 12 million shares to the public, boosting its shares outstanding by about 16 percent.

Based on Tuesday's closing price of $19.19, the shares would be worth almost $230.3 million. Jarden said it will use the money for general corporate purposes, including paying off debt.

The company, which makes camping equipment, electric blankets and air purifiers, said the offering will be underwritten by Barclays Capital.

The stock fell 9 cents in late trading.