Standard Motor Products, Inc. Announces Pricing of Its Common Stock Offering
30 10월 2009 - 9:30PM
PR Newswire (US)
NEW YORK, Oct. 30 /PRNewswire-FirstCall/ -- Standard Motor
Products, Inc. (NYSE:SMP), an automotive replacement parts
manufacturer and distributor, announced today the pricing of an
underwritten public offering of 3,000,000 shares of its common
stock, at an offering price of $8.50 per share. In connection with
this offering, the Company has granted the underwriters a 30-day
option to purchase up to 450,000 additional shares. Goldman, Sachs
& Co. is serving as the sole book-runner, with BB&T Capital
Markets as a co-manager for the offering. The offering is expected
to close on November 4, 2009, subject to customary closing
conditions. The Company intends to use the net proceeds from the
offering to repay a portion of its outstanding indebtedness under
its revolving credit facility. The Company then intends to borrow
funds from time to time under its revolving credit facility for
general corporate purposes. The shares will be issued pursuant to
an effective shelf registration statement that was previously filed
with the Securities and Exchange Commission. A final prospectus
supplement related to the offering will be filed with the SEC and
will be available on its Web site, http://www.sec.gov/. Copies of
the prospectus supplement and accompanying base prospectus related
to this offering may be obtained from Goldman, Sachs & Co. via
telephone: (866) 471-2526; facsimile: (212) 902-9316; email: ; or
standard mail at Goldman, Sachs & Co., Prospectus Department,
85 Broad Street, New York, NY 10004. This 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 state or
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.
DATASOURCE: Standard Motor Products, Inc. CONTACT: James J. Burke,
Standard Motor Products, Inc., +1-718-392-0200; or Jennifer Tio,
Maximum Marketing Services, Inc., +1-312-226-4111, ext. 2449,
Copyright