BURLINGTON, Mass.--(BUSINESS WIRE)--Jun. 11, 2018--
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180611005494/en/
Source: CIRCOR International, Inc.
CIRCOR International
Rajeev Bhalla, 781-270-1200
Executive
Vice President & Chief Financial Officer
