Horsehead Holding Corp. (the "Company") (Nasdaq: ZINC), a leading U.S.
producer of specialty zinc and zinc-based products, announced today that
it has priced an underwritten public offering of 5,500,000 shares of
common stock at an offering price of $12.00 per share. The Company has
granted the underwriters a 30-day option to purchase up to 825,000
additional shares of common stock. The offering is expected to close on
October 30, 2013, subject to customary closing conditions.
The Company plans to use the net proceeds of the offering for general
corporate purposes, including capital expenditures, acquisitions and
working capital.
Stifel, Nicolaus & Company, Incorporated is acting as the sole
book-running manager for the offering. FBR Capital Markets & Co.,
Oppenheimer & Co. Inc. and CJS Securities, Inc. are acting as
co-managers.
The securities described above are being offered pursuant to a "shelf"
registration statement previously filed and declared effective by the
Securities and Exchange Commission (SEC) on October 3, 2013. The
offering is being made only by means of a prospectus supplement and
accompanying base prospectus. Copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be obtained
from Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus
Department, One South Street, 15th Floor, Baltimore, MD 21202, or by
calling (855) 300-7136. An electronic copy of the prospectus supplement
and accompanying base prospectus relating to the offering is available
on the website of the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be any
sale of 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
jurisdiction.
About Horsehead
Horsehead Holding Corp. (“Horsehead”) (Nasdaq: ZINC) is the parent
company of Horsehead Corporation, a leading U.S. producer of specialty
zinc and zinc-based products and a leading recycler of electric arc
furnace dust; The International Metals Reclamation Company, a leading
recycler of metals-bearing wastes and a leading processor of
nickel-cadmium (NiCd) batteries in North America; and Zochem Inc., a
zinc oxide producer located in Brampton, Ontario. Horsehead,
headquartered in Pittsburgh, PA, employs approximately 1,100 people and
has production and/or recycling operations at seven facilities located
in the U.S. and in Canada.
Cautionary Statement about Forward-Looking Statements
This press release contains forward-looking statements, including the
proposed offering and the use of proceeds therefrom. These statements
are based on assumptions, estimates and information available to us at
the time of this press release and are not guarantees of future
performance. Investors are cautioned that forward-looking statements
involve risks and uncertainty, including, but not limited to, whether or
not we will consummate the offering, and if we do, the use of proceeds
of the offering. Our actual results could differ materially from those
expressed in, or implied by, the forward-looking statements. We can give
no assurances that any of the events anticipated by the forward-looking
statements will occur or, if any of them does, what impact they will
have on our results of operations and financial condition. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and we undertake no obligation to revise or update
this press release to reflect events or circumstances after the date
hereof.
Copyright Business Wire 2013