B/E Aerospace Announces Pricing of Public Equity Offering
March 23 2007 - 12:14AM
Business Wire
B/E Aerospace, Inc. (Nasdaq: BEAV), announced today the pricing of
a public offering of 10,500,000 shares of its common stock at a
price of $32.00 per share. The 10,500,000 share offering represents
a 1,500,000 share upsize to the originally proposed 9,000,000 share
offering. Credit Suisse Securities (USA) LLC and UBS Securities LLC
were joint book-running managers and CIBC World Markets Corp.,
Friedman, Billings, Ramsey & Co., Inc. and Jefferies
Quarterdeck, a division of Jefferies & Company, Inc. were the
co-managers for the offering. Compensation to the underwriters
pursuant to the underwriting agreement with the company was 4.425
percent of the gross proceeds of the offering. The underwriters
also have an option to purchase up to an additional 1,575,000
shares of common stock to cover over-allotments, if any. B/E
intends to use the net proceeds from the offering of approximately
$320 million to redeem its $250.0 million aggregate principal
amount 8?% Senior Subordinated Notes due 2011 and for general
corporate purposes. This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, 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 law of any such jurisdiction. The offering is
being made by means of a prospectus and the related prospectus
supplement only. Copies of the prospectus and the related
prospectus supplement can be obtained from Credit Suisse Securities
(USA) LLC, One Madison Avenue, New York, New York 10010, (212)
325-2580 and UBS Investment Bank, Attention: Prospectus Department,
299 Park Avenue, 8th Floor, New York, New York 10171, (212)
821-3400. This news release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve risks and uncertainties. B/E�s
actual experience may differ materially from that anticipated in
such statements. Factors that might cause such a difference include
those discussed in B/E�s filings with the Securities and Exchange
Commission, including but not limited to its most recent Form 10-K.
For more information, see the section entitled �Forward-Looking
Statements� contained in B/E�s Form 10-K and in other filings. The
forward-looking statements included in this news release are made
only as of the date of this news release and, except as required by
federal securities laws, we do not intend to publicly update or
revise any forward-looking statements to reflect subsequent events
or circumstances. About B/E Aerospace, Inc. B/E Aerospace, Inc. is
the world�s leading manufacturer of aircraft cabin interior
products, and a leading aftermarket distributor of aerospace
fasteners. B/E designs, develops and manufactures a broad range of
products for both commercial aircraft and business jets. B/E
manufactured products include aircraft cabin seating, lighting,
oxygen, and food and beverage preparation and storage equipment.
The company also provides cabin interior design, reconfiguration
and passenger-to-freighter conversion services. Products for the
existing aircraft fleet - the aftermarket - generate about 60
percent of sales. B/E sells and supports its products through its
own global direct sales and product support organization.
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