NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES
LONGUEUIL, QC, June 26, 2014 /CNW Telbec/ - Héroux-Devtek Inc. (TSX:
HRX) ("Héroux-Devtek" or the "Corporation"), a leading Canadian
manufacturer of aerospace products, announced today that is has
completed its previously-announced equity financing comprised of a
"bought deal" short form prospectus offering of 3,158,000 common shares
of the Corporation at a price of $11.75 per share for gross proceeds to
the Corporation of $37,106,500 (the "Public Offering") and concurrent
private placements of an aggregate of 1,097,871 common shares of the
Corporation at a price of $11.75 per share for gross proceeds to the
Corporation of $12,899,984 (the "Concurrent Private Placements").
The syndicate of underwriters for the Public Offering was co-led by
National Bank Financial Inc. and TD Securities Inc., acting as co-lead
underwriters and joint bookrunners, and included Scotia Capital Inc.,
Desjardins Securities Inc., Laurentian Bank Securities Inc. and Raymond
James Ltd. The investors in the Concurrent Private Placements were the
Caisse de dépôt et placement du Québec and the Solidarity Fund QFL.
The Corporation intends to use the net proceeds from the Public Offering
and the Concurrent Private Placements to repay indebtedness under its
credit facility.
No securities regulatory authority has either approved or disapproved
the contents of this press release. This press release does not
constitute an offer to sell or a solicitation of an offer to buy any
securities of the Corporation in any jurisdiction in which such offer,
solicitation or sale would be unlawful. These securities have not been
and will not be registered under the United States Securities Act of
1933, as amended or any U.S. state securities law and may not be
offered or sold in the United States except in compliance with the
registration requirements of said Act and applicable U.S. state
securities laws or pursuant to an exemption therefrom.
PROFILE
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the
design, development, manufacture and repair and overhaul of landing
gear and actuation systems and components for the Aerospace market. The
Corporation is the third largest landing gear company worldwide,
supplying both the commercial and military sectors of the Aerospace
market with new landing gear systems and components, as well as
aftermarket products and services. The Corporation also manufactures
electronic enclosures, heat exchangers and cabinets for suppliers of
airborne radar, electro-optic systems and aircraft controls through its
Magtron operations. On a pro forma basis, approximately 75% of the
Corporation's sales are outside Canada, including 50% in the United
States. The Corporation's head office is located in Longueuil, Québec
with facilities in the Greater Montreal area (Longueuil, Laval and
St-Hubert); Kitchener and Toronto, Ontario; Springfield and Cleveland,
Ohio; Wichita, Kansas; and Runcorn, Nottingham and Bolton, United
Kingdom.
FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release
may contain information and statements of a forward-looking nature
concerning the future performance of the Corporation. These statements
are based on suppositions and uncertainties as well as on management's
best possible evaluation of future events. Such factors may include,
without excluding other considerations, fluctuations in quarterly
results, evolution in customer demand for the Corporation's products
and services, the impact of price pressures exerted by competitors, and
general market trends or economic changes. As a result, readers are
advised that actual results may differ from expected results.
SOURCE Héroux-Devtek Inc.
