Cybex International Announces Pricing for Public Offering of Common Stock
17 Mayo 2006 - 7:18AM
Business Wire
Cybex International, Inc. (AMEX: CYB) announced today the pricing
of its public offering of 3.5 million shares of CYBEX common stock
at $5.50 per share. Of the total shares being offered, 1.75 million
shares will be issued by CYBEX and 1.75 million shares will be sold
by the selling stockholders, including UM Holdings Ltd., John
Aglialoro and Joan Carter. CYBEX will not receive any proceeds from
the sale of the shares by the selling stockholders. CYBEX and the
selling stockholders have also granted the underwriters of the
offering an option to purchase up to an additional 525,000 shares
of common stock on the same terms, equally split between CYBEX and
the selling stockholders. John Aglialoro, Chairman and CEO of
CYBEX, stated: "This offering will provide capital to fund CYBEX's
growth initiatives, including facilitating the development of new
products aimed at specific market segments and the expansion of our
manufacturing capacity. In the near-term, pending such use, the
proceeds will be used to substantially pay down our indebtedness.
The offering will also broaden our shareholder base which we expect
to result in increased liquidity for our shareholders and a
positive foundation for our stock as we execute our growth
strategy." Oppenheimer & Co. is the sole book-running manager
in the offering. Stephens Inc. and Roth Capital Partners are
co-managers of the offering. When available, copies of the final
prospectus relating to this offering may be obtained from
Oppenheimer & Co., Attention: Equity Capital Markets, 125 Broad
Street, 15th Floor, New York, NY 10004, by telephone at (212)
668-8163, or via email at ecm@opco.com. The registration statement
relating to these securities has been declared effective by the
Securities and Exchange Commission and the secondary offering is
being made by means of a prospectus. This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities described herein, nor shall there be any sale of the
securities in any State or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such State. Cybex
International, Inc. is a manufacturer of premium exercise equipment
for commercial and consumer use. The CYBEX product line includes a
full range of both strength training and cardio training machines
sold worldwide under the CYBEX brand. This news release may contain
forward-looking statements. There are a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated by the statements made above. These include,
but are not limited to, competitive factors, technological and
product developments, market demand, economic conditions, the
resolution of litigation involving the Company, completion of the
planned stock offering, and the ability of the Company to comply
with the terms of its credit facilities. Further information on
these and other factors which could affect the Company's financial
results can be found in the Company's previously filed Report on
Form 10-K, its Reports on Form 10-Q, its Current Reports on Form
8-K, and its proxy statement dated April 4, 2006.
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