Commencement of US Initial Public Offering
17 Julio 2009 - 10:18AM
UK Regulatory
TIDMGLBM
RNS Number : 9026V
Globe Specialty Metals, Inc
17 July 2009
Gobe Speciality Metals, Inc.
Commencement of U.S. Initial Public Offering of Common Stock
New York, New York - July 17, 2009 - Globe Specialty Metals, Inc. (the
"Company") announced the launch of its initial public offering in the United
States of 14,000,000 shares of its common stock. Of the shares being offered,
5,600,000 are being offered by the Company and 8,400,000 are being offered by
selling stockholders. The initial public offering price is expected to be
between $7.00 and $9.00 per share of common stock. The shares have been approved
for listing on The NASDAQ Global Select Market under the ticker symbol "GSM."
The underwriters have the option to purchase from certain selling stockholders
up to an additional 2,100,000 shares of common stock, on the same terms and
conditions, to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering received by it for
general corporate purposes, including, without limitation, to invest in new
business, products and technologies, both through acquisitions and capital
programs, to expand its core silicon metal, silicon-based alloy and UMG
businesses, and to fund its ongoing operating and working capital requirements.
The Company will not receive any of the proceeds from the offering of the common
stock by the selling stockholders.
Credit Suisse Securities (USA) LLC, Jefferies & Company, Inc. and J.P. Morgan
Securities Inc. will act as book-running managers of the offering.
A registration statement relating to these securities has been filed with the
U.S. Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
that the registration statement becomes effective. This press release does not
constitute an offer to sell or a solicitation of an offer to buy the securities
described above, nor shall there be any sale of such shares of common stock 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 jurisdiction. The offering of these securities will be made only
by means of a prospectus, copies of which may be obtained from Credit Suisse,
Prospectus Department, One Madison Avenue, New York, NY, 10010 or by calling
(800) 221-1037, from Jefferies & Company, 520 Madison Avenue, 16th Floor, New
York, NY, 10022 or by calling (212) 284-2342, or from J.P. Morgan, National
Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level,
Brooklyn, New York, 11245 or by calling (718) 242-9002.
About the Company
Globe Specialty Metals, Inc. is among the world's largest producers of silicon
metal and silicon based specialty alloys, critical ingredients in a host of
industrial and consumer products. Customers include major silicone chemical,
aluminum and steel manufacturers, auto companies and their suppliers, ductile
iron foundries, manufacturers of photovoltaic solar cells and computer chips,
and concrete producers. The Company is headquartered in New York City.
This press release contains forward-looking statements. You should not place
undue reliance on those statements because they are subject to numerous
uncertainties and factors relating to our operations and business environment,
all of which are difficult to predict and many of which are beyond our control.
Forward-looking statements include information concerning our possible or
assumed future results of operations, including descriptions of our business
strategy. These statements often include words such as "may," "will," "should,"
"believe," "expect," "anticipate," "intend," "plan," "estimate" or similar
expressions. These statements are based on assumptions that we have made in
light of our experience in the industry as well as our perceptions of historical
trends, current conditions, expected future developments and other factors we
believe are appropriate under the circumstances. Although we believe that these
forward-looking statements are based on reasonable assumptions, you should be
aware that many factors could affect our actual financial results or results of
operations and could cause actual results to differ materially from those in the
forward-looking statements. These factors are discussed in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition and Results of
Operations" sections and elsewhere in the Company's registration statement.
You should keep in mind that any forward-looking statement made by us herein, or
elsewhere, speaks only as of the date on which we make it. New risks and
uncertainties come up from time to time, and it is impossible for us to predict
these events or how they may affect us. We have no obligation to update any
forward-looking statements after the date hereof, except as required by federal
securities laws.
Important Notice
Collins Stewart Europe Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting as nominated adviser to
Globe Specialty Metals, Inc. and will not be responsible to anyone other than
the Company for providing the protections afforded to clients of Collins Stewart
Europe Limited nor for providing advice in connection any other matter referred
to herein.
Contact:
Malcolm Appelbaum
Chief Financial Officer
(212) 798-8123
mappelbaum@glbsm.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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