CIRCOR International Announces Public Offering of Common Stock
June 11 2018 - 6:47AM
Business Wire
CIRCOR International, Inc. (NYSE: CIR) (“CIRCOR” or the
“Company”) today announced that Colfax Corporation, a Delaware
corporation and a stockholder of CIRCOR, has commenced an
underwritten, registered secondary offering of 3,283,424 shares of
CIRCOR common stock. In connection with this offering, the Company
expects to grant 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 the selling stockholder. 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.
Citigroup and Deutsche Bank Securities are acting as joint
book-running managers for the proposed offering. KeyBanc Capital
Markets and Stifel are acting as co-managers. The offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
A preliminary prospectus supplement relating to the offering
will be filed by the Company with the Securities and Exchange
Commission (the “SEC”). Copies of the preliminary prospectus
supplement 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.
The final terms of the offering will be disclosed in a final
prospectus supplement to be filed by the Company with the SEC.
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. 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.
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, the final terms of the proposed offering, whether the
underwriters exercise the option to purchase additional shares,
market and other conditions, the satisfaction of customary closing
conditions related to the proposed 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 preliminary prospectus related to the proposed
offering, filed with the SEC on the date of this release, as well
as any updates to those risk factors filed from time to time in the
Company’s other filings with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20180611005494/en/
CIRCOR InternationalRajeev Bhalla, 781-270-1200Executive Vice
President & Chief Financial Officer
CIRCOR (NYSE:CIR)
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