Pioneer Announces the Closing of Common Stock Offering
December 06 2004 - 11:23AM
PR Newswire (US)
Pioneer Announces the Closing of Common Stock Offering HOUSTON,
Dec. 6 /PRNewswire-FirstCall/ -- Pioneer Companies, Inc. (OTC:PONR)
(BULLETIN BOARD: PONR) announced today the closing of the
previously announced public offering of 1,100,000 shares of its
common stock, which included 100,000 shares sold upon exercise by
the underwriter, CRT Capital Group LLC, of its over-allotment
option. Net proceeds to Pioneer from the offering were
approximately $22.4 million, after deducting estimated expenses.
Pioneer intends to use all of the net proceeds to redeem a portion
of its outstanding Senior Secured Floating Rate Guaranteed Notes
due 2006 and Senior Floating Rate Term Notes due 2006. A copy of
the final prospectus relating to the offering may be obtained from
CRT Capital Group LLC, Attention: Prospectus Department, 262 Harbor
Drive, Stamford, CT 06902. This document has also been filed with
the Securities and Exchange Commission and is available over the
internet at the SEC website at http://www.sec.gov/ . A registration
statement relating to these securities has been filed with the
Securities and Exchange Commission and has become effective. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
Pioneer, based in Houston, manufactures chlorine, caustic soda,
bleach, hydrochloric acid and related products used in a variety of
applications, including water treatment, plastics, pulp and paper,
detergents, agricultural chemicals, pharmaceuticals and medical
disinfectants. Pioneer owns and operates four chlor-alkali plants
and several downstream manufacturing facilities in North America.
DATASOURCE: Pioneer Companies, Inc. CONTACT: Gary Pittman of
Pioneer Companies, Inc., +1-713-570-3200 Web site:
http://www.piona.com/ http://www.sec.gov/
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