Hayes Lemmerz Announces Closing of Primary Offering of Approximately 7.7 Million Shares and Secondary Offering of 2.0 Million Sh
12 February 2004 - 8:05AM
PR Newswire (US)
Hayes Lemmerz Announces Closing of Primary Offering of
Approximately 7.7 Million Shares and Secondary Offering of 2.0
Million Shares NORTHVILLE, Mich., Feb. 11 /PRNewswire-FirstCall/ --
Hayes Lemmerz International, Inc. announced today the closing of
its primary offering of approximately 7.7 million shares of common
stock, including approximately 1.3 million shares to cover
over-allotments, and a secondary offering of 2.0 million shares of
its common stock. The Company will use the net proceeds that it
received in the offering to redeem $87.5 million aggregate
principal amount of its outstanding 10-1/2% Senior Notes due 2010,
to prepay a portion of its Term Loan Facility and for general
corporate purposes. The secondary offering was for shares owned by
AP Wheels, LLC, an affiliate of Apollo Management V, L.P. Pursuant
to the registration agreement between Apollo and the Company
relating to the offering, Steve Martinez, one of the members of the
Hayes Lemmerz board of directors who had beenselected by Apollo,
resigned from his position on the Hayes Lemmerz board upon the
closing of the offering. Curtis Clawson, Chairman and CEO said,
"Steve has been a valuable member of the Board since he joined in
June. We appreciate Steve's contributions and wish him the best in
all future endeavors." Lehman Brothers and Merrill Lynch & Co.
were the managing underwriters and joint bookrunners for the
offering and Citigroup Global Markets Inc., Lazard Freres & Co.
LLC and UBS Securities LLC served as co-managers. Hayes Lemmerz
International, Inc. is a leading global supplier of automotive and
commercial highway wheels, brakes, powertrain, suspension,
structural and other lightweight components. The Company has 44
plants and approximately 11,000 employees worldwide.
http://www.newscom.com/cgi-bin/prnh/20010522/HLILOGO DATASOURCE:
Hayes Lemmerz International, Inc. CONTACT: Marika Diamond of Hayes
Lemmerz International, Inc., +1-734-737-5162 Web site:
http://www.hayes-lemmerz.com/
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