Vector Group Announces Pricing of Public Offering of 5,000,000 Shares of Common Stock
14 May 2020 - 9:00PM
Business Wire
Vector Group Ltd. (NYSE: VGR) today announced the pricing of its
underwritten public offering (the “Offering”) of 5,000,000 shares
of its common stock. In addition, Vector Group has granted the
underwriter a 30-day option to purchase up to an additional 750,000
shares of Vector Group’s common stock at the Offering price. Vector
Group currently intends to use the net proceeds from the Offering
for general corporate purposes. The Offering is expected to close
on May 18, 2020, subject to customary closing conditions.
The Offering is being made only by means of a prospectus
supplement and the accompanying prospectus, copies of which, when
available, may be obtained from the offices of Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, telephone: 1-877-821-7388 or
by emailing Prospectus_Department@Jefferies.com.
The shares of Vector Group’s common stock will be issued
pursuant to an effective automatic shelf registration statement on
Form S-3. Before investing in the Offering, interested parties
should read the prospectus and related prospectus supplement for
the Offering, the documents incorporated by reference therein and
the other documents Vector Group has filed with the U.S. Securities
and Exchange Commission (“SEC”). These documents may be obtained
for free by visiting the SEC’s website at www.sec.gov. This press
release is for informational purposes only and shall not constitute
an offer to sell or a solicitation of an offer to buy any of these
securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
applicable securities laws of such state or jurisdiction.
Jefferies LLC is acting as the book-running manager of the
Offering.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The Company has tried, whenever possible, to identify
these forward-looking statements using words such as “anticipates”,
“believes”, “estimates”, “expects”, “plans”, “intends”, “could” and
similar expressions. These statements reflect the Company’s current
beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
the Company’s actual results, performance or achievements to differ
materially from those expressed in, or implied by, such
statements.
All information set forth in this press release is as of May 14,
2020. Vector Group does not intend, and undertakes no duty, to
update this information to reflect future events or circumstances.
Risk factors and uncertainties that may cause actual results to
differ materially from expected results include, among others, its
ability to successfully complete the proposed offering.
About Vector Group Ltd.
Vector Group is a holding company for Liggett Group LLC, Vector
Tobacco Inc., New Valley LLC, and Douglas Elliman Realty, LLC.
Additional information concerning the company is available on the
Company's website, www.VectorGroupLtd.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200514005430/en/
Vector Group Ltd. J. Bryant Kirkland III 305-579-8000
or
Sard Verbinnen & Co Emily Claffey/Ben Spicehandler/Columbia
Clancy 212-687-8080
Vector (NYSE:VGR)
Historical Stock Chart
From Apr 2024 to May 2024
Vector (NYSE:VGR)
Historical Stock Chart
From May 2023 to May 2024