CIRCOR International Announces Pricing of Public Offering
13 June 2018 - 11:11AM
Business Wire
CIRCOR International, Inc. (NYSE: CIR)
(“CIRCOR” or the “Company”) today announced the pricing of its
previously announced public offering of 3,283,424 shares of CIRCOR
common stock on behalf of Colfax Corporation ("Colfax"), at a
public offering price of $44.25 per share. In connection with the
offering, the Company granted the underwriters a 30-day option to
purchase up to an additional 492,513 newly issued shares of common
stock from the Company at the public offering price less the
underwriting discount.
CIRCOR will not receive any proceeds from the sale of the shares
by Colfax. If the underwriters’ option to purchase up to the
additional 492,513 shares of common stock offered by CIRCOR is
exercised in full, CIRCOR would receive proceeds that will be used
to pay the expenses of the offering and to repay amounts under its
credit facility. The offering is expected to close on or about June
15, 2018, subject to customary closing conditions.
Citigroup and Deutsche Bank Securities are acting as joint
book-running managers for the offering. KeyBanc Capital Markets and
Stifel are acting as co-managers.
The securities described above are being offered pursuant to an
effective shelf registration statement on Form S-3 previously filed
by CIRCOR with the SEC. A preliminary prospectus relating to the
offering was filed by the Company with the Securities and Exchange
Commission (the “SEC”) on June 11, 2018. A final prospectus
relating to this offering will be filed by the Company with the
SEC. Copies of the final prospectus may be obtained from the
offices of Citigroup c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by calling 800-831-9146; or
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall
Street, New York, NY 10005, or by e-mailing prospectus.cpdg@db.com
or calling 1-800-503-4611.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About CIRCOR
CIRCOR International, Inc. designs, manufactures and markets
differentiated technology products and sub-systems for markets
including industrial, oil & gas, aerospace & defense and
commercial marine. CIRCOR has a diversified flow and motion control
product portfolio with recognized, market-leading brands that
fulfill its customers’ mission critical needs. The Company’s
strategy is to grow organically and through complementary
acquisitions; simplify CIRCOR’s operations; achieve world class
operational excellence; and attract and retain top talent.
Additional information about CIRCOR is available in the Company's
public filings, which are available at the SEC's EDGAR database
available online at www.sec.gov.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of
1934, as amended. In some cases, you can identify these
forward-looking statements by the use of words such as “expects,”
“potential,” “proposed,” “may,” “will,” “should,” “could,”
“intends,” “plans,” “estimates,” or the negative version of these
words or other comparable words. Forward-looking statements,
including statements regarding terms of the proposed offering, the
timing and completion of the offering and the use of proceeds, if
any, that may be received by the Company, involve known and unknown
risks, uncertainties and other factors, which may cause actual
results to differ materially from the anticipated results expressed
or implied by such forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, whether the underwriters exercise the option to
purchase additional shares, market and other conditions, the
satisfaction of customary closing conditions related to the public
offering and the impact of general economic, industry or political
conditions worldwide. We advise you to read further about these and
other risk factors set forth in the section entitled “Risk
Factors,” or incorporated by reference into the prospectus related
to the offering, filed with the SEC, as well as any updates to
those risk factors filed from time to time in the Company’s other
filings with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180612006580/en/
CIRCOR InternationalRajeev Bhalla, 781-270-1200Executive Vice
President & Chief Financial Officer
CIRCOR (NYSE:CIR)
Historical Stock Chart
From Jun 2024 to Jul 2024
CIRCOR (NYSE:CIR)
Historical Stock Chart
From Jul 2023 to Jul 2024