Wolverine Tube Inc. Raises $24.5 Million in Private Placement of Common Stock
June 24 2004 - 10:18AM
PR Newswire (US)
Wolverine Tube Inc. Raises $24.5 Million in Private Placement of
Common Stock HUNTSVILLE, Ala., June 24 /PRNewswire-FirstCall/ --
Wolverine Tube, Inc. (NYSE:WLV) announced today that it has
completed a private placement of 2.45 million shares of Common
Stock at a price of $10.00 per share. All of the shares were sold
by the Company. Following the closing, the Company will have
approximately 14.8 million common shares outstanding. The
completion of this private placement will net the Company
approximately $22.9 million, which will be used to reduce debt and
for other corporate purposes, as well as, create and increase
institutional sponsorship and trading liquidity in the Company's
stock. The shares of Common Stock were offered and sold in a
private placement to accredited investors pursuant to exemptions
from registration under the Securities Act of 1933. The Company, as
soon as practical, will file a registration statement with the
Securities and Exchange Commission relating to the resale of the
shares of Common Stock by the purchasers in the private placement.
This press release is not an offer to sell or the solicitation of
an offer to buy the securities discussed herein. The press release
is being issued pursuant to and in accordance with Rule 135c under
the Securities Act of 1933. About Wolverine Tube, Inc. Wolverine
Tube, Inc. is a world-class partner, providing its customers with
copper and copper alloy tube, fabricated products, metal joining
products as well as copper and copper alloy rod, bar and other
products. Internet addresses: http://www.wlv.com/ and
http://www.silvaloy.com/ . Contact: James E. Deason Executive Vice
President, Chief Financial Officer (256) 580-3500 DATASOURCE:
Wolverine Tube, Inc. CONTACT: James E. Deason, Executive Vice
President, Chief Financial Officer of Wolverine Tube, Inc.,
+1-256-580-3500 Web site: http://www.wlv.com/
http://www.silvaloy.com/
Copyright
Wolverine Tube (NYSE:WLV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wolverine Tube (NYSE:WLV)
Historical Stock Chart
From Jul 2023 to Jul 2024