Weyerhaeuser has earned US$953.7m from the sale of 16.75 million common shares.

The offering involved the 14.5 million shares it had previously announced it would sell, plus 2.17 million shares issued in connection with the exercise of the underwriters’ option to purchase shares to cover over-allotments.

Weyerhaeuser expects to use the proceeds to pay off part of its outstanding debt during the next 12 months.