Sealed Air Corporation Announces Secondary Offering by Selling Stockholder
10 June 2014 - 6:45AM
Business Wire
Sealed Air Corporation (“Sealed Air”) (NYSE:SEE) announced today
that the WRG Asbestos PI Trust (the “selling stockholder”) has
agreed to sell 5,000,000 shares of common stock, par value $0.10
per share (“Common Stock”) of Sealed Air, in an underwritten
secondary offering on a bought deal basis. Sealed Air will not sell
any shares in the offering and will not receive any proceeds from
the offering. Concurrently with, and conditioned upon the
completion of, this offering, Sealed Air has agreed to purchase
$130 million of Common Stock from the selling stockholder at the
price at which the shares of Common Stock are sold to the
underwriter in the secondary offering.
Credit Suisse Securities (USA) LLC is serving as the sole
underwriter of the offering.
The shares will be offered pursuant to an effective registration
statement previously filed with the Securities and Exchange
Commission. A prospectus supplement relating to the offering will
be filed with the Securities and Exchange Commission. Copies of the
prospectus supplement and the accompanying prospectus when
available may be obtained by contacting Credit Suisse Securities
(USA) LLC by mail at Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, New York
10010, by telephone at (800) 221-1037, or by Email at
newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will 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
registration or qualification under the securities laws of any such
state or other jurisdiction. The offering of these securities will
be made only by means of the prospectus supplement and the
accompanying prospectus.
Business
Sealed Air creates a world that feels, tastes and works better.
In 2013, Sealed Air generated revenue of approximately $7.7 billion
by helping our customers achieve their sustainability goals in the
face of today’s biggest social and environmental challenges. Our
portfolio of widely recognized brands, including Cryovac® brand
food packaging solutions, Bubble Wrap® brand cushioning and
Diversey™ cleaning and hygiene solutions, ensures a safer and less
wasteful food supply chain, protects valuable goods shipped around
the world, and improves health through clean environments. Sealed
Air has approximately 25,000 employees who serve customers in 175
countries. To learn more, visit www.sealedair.com. Information on
Sealed Air’s website is not incorporated into, and does not form a
part of, this press release.
Forward-Looking
Statements
Statements in this press release may be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning our business, consolidated financial
condition and results of operations. These statements include
comments as to future events that may affect Sealed Air, which are
based upon management’s current expectations and are subject to
uncertainties, many of which are outside Sealed Air’s control.
Forward-looking statements can be identified by such words as
“anticipates,” “expects,” “believes,” “plan,” “could,” “estimate,”
“will” and similar expressions. A variety of factors may cause
actual results to differ materially from these expectations,
including economic conditions affecting packaging utilization,
changes in raw material costs, currency translation effects, and
legal proceedings. For more extensive information, see “Risk
Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form
10-K, as may be revised and updated from time to time by our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as
filed with the Securities and Exchange Commission. These reports
are available on the Securities and Exchange Commission’s website
at www.sec.gov or our Investor Relations home page at
http://ir.sealedair.com. Information on Sealed Air’s website is not
incorporated into, and does not form a part of, this press release.
Sealed Air does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
Sealed Air CorporationInvestors:Lori Chaitman,
201-703-4161orMedia:Ken Aurichio, 201-703-4164
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Sep 2024 to Oct 2024
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Oct 2023 to Oct 2024