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PMFG (Parent of Peerless Mfg. Co.) Announces Closing of Follow-On Offering of 2,990,000 Shares of Common Stock
Posted February 23, 2012
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DALLAS -- PMFG, Inc. (Nasdaq:PMFG) today announced the closing of its previously announced public offering of 2,990,000 shares of its common stock, including the full exercise of the underwriters' over-allotment option to purchase 390,000 shares. The Company received net proceeds of approximately $44.47 million from the offering after deducting underwriting discounts and commissions and estimated offering expenses. The Company used a portion of the net proceeds from the offering to repay all of its outstanding borrowings under its senior term loan. The balance of the net proceeds will be used for general corporate purposes, including international expansion and strategic acquisitions.
Stifel Nicolaus Weisel and William Blair & Company acted as joint book-running managers for the offering. JMP Securities and Needham & Company acted as co-managers for the offering.
The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission. A prospectus supplement and accompanying prospectus related to the offering was filed with the Securities and Exchange Commission and is available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus related to the offering may be obtained from Stifel Nicolaus Weisel, One South Street, 15th Floor, Baltimore, MD 21202, Attention: Equity Syndicate Department, by telephone at 443-224-1988 or by email at SyndicateOps@stifel.com or William Blair & Company, 222 West Adams Street, Chicago, IL 60606, Attention: Business Information Center, by telephone at 1-800-621-0687 or by email at prospectus@williamblair.com.
This press release will not constitute an offer to sell nor the solicitation of an offer to buy, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering may be made only by means of a prospectus and a related prospectus supplement.
About PMFG
We are a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. We primarily serve the markets for natural gas infrastructure, power generation and refining and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide.
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