WEST PALM BEACH, Fla., Sept. 15, 2016 (GLOBE NEWSWIRE) -- Platform Specialty Products Corporation (NYSE: PAH ) (“Platform”), a global, diversified specialty chemicals company, today announced that it has commenced an underwritten public offering of $350 million of shares of its common stock. In connection with the offering, Platform intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. All of the shares of common stock to be sold in the offering are to be sold by Platform.
Platform intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, the alternative settlement of certain obligations relating to Platform’s shares of Series B convertible preferred stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering.
Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and UBS Securities LLC are acting as joint book-running managers for the proposed offering.
A shelf registration statement on Form S-3 relating to the shares of common stock being sold in the offering was filed with the Securities and Exchange Commission (the “SEC”) on July 12, 2016, and declared effective by the SEC on July 26, 2016. The offering of the shares of common stock is being made only by means of a preliminary prospectus supplement and accompanying prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, copies of which, when filed, may be obtained on the SEC’s website located at http://www.sec.gov . When available, copies of the preliminary prospectus supplement and the accompanying prospectus related to the offering may also be obtained from Credit Suisse at Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800-221-1037, email: newyork.prospectus@credit-suisse.com . The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Platform
Platform is a global, diversified producer of high-technology specialty chemicals and a provider of technical services. The business involves the formulation of a broad range of solutions-oriented specialty chemicals, which are sold into multiple industries, including agricultural, animal health, electronics, graphic arts, plating, and offshore oil and gas production and drilling.
Forward-looking Statements
This press release contains forward-looking statements, including, but not limited to, statements regarding Platform's proposed public offering of shares of its common stock and the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, market and other general economic conditions, Platform's and the underwriters' ability to satisfy the conditions required to close the offering and Platform's future availability of equity or debt financing needed to fund its growing business. These forward-looking statements are made as of the date of this press release and Platform assumes no obligation to update such forward-looking statements or to update the reasons why actual results could differ from those projected in such forward-looking statements. Investors should refer to the risk factors set forth in the registration statement filed by Platform with the SEC on July 12, 2016, as amended and/or supplemented, and periodic reports and other documents filed by Platform with the SEC, including Platform's annual report on Form 10-K for the fiscal year ended December 31, 2015, and its quarterly reports on Form 10-Q for the fiscal quarters ended March 31, 2016 and June 30, 2016.
CONTACT: Investor Relations Contact: Carey Dorman Director — Corporate Development Platform Specialty Products Corporation 1-561-406-8465 Media Contact: Liz Cohen Weber Shandwick 1-212-445-8044
