Perma-Pipe International Holdings, Inc. Files Universal Shelf Registration Statement
April 16 2019 - 9:00AM
Business Wire
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today
announced that it has filed a universal shelf registration
statement with the Securities and Exchange Commission to allow the
Company to potentially offer an indeterminate principal amount and
number of securities in the future with a proposed maximum
aggregate offering price of up to $65,000,000. The shelf
registration statement is intended to provide the Company with
flexibility to access the public capital markets to respond to
future financing and business opportunities.
If and when the shelf registration statement is declared
effective by the Securities and Exchange Commission, the Company
will have the ability to publicly offer and sell from time to time
debt securities, common stock, warrants and other securities or any
combination of such securities. The Company may periodically offer
one or more of these securities in amounts, at prices and on terms
announced if and when the securities are ever offered. The
specifics of any potential future offerings, along with the use of
proceeds of any such securities offered by the Company, will be
described in detail in a prospectus supplement at the time of any
such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a
global leader in pre-insulated piping and leak detection systems
for oil and gas gathering, district heating and cooling, and other
applications. It uses its extensive engineering and fabrication
expertise to develop piping solutions that solve complex challenges
regarding the safe and efficient transportation of many types of
liquids. In total, the Company has operations at seven locations in
five countries.
Forward-Looking Statements
Certain statements and other information contained in this press
release that can be identified by the use of forward-looking
terminology constitute “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(“Exchange Act”), and are subject to the safe harbors created
thereby, including, without limitation, statements regarding the
expected future performance and operations of the Company. These
statements should be considered as subject to the many risks and
uncertainties that exist in the Company’s operations and business
environment. Such risks and uncertainties include, but are not
limited to, the following: (i) the Company’s ability to
effectively execute its strategic plan and achieve profitability
and positive cash flows; (ii) the impact of global economic
weakness and volatility; (iii) fluctuations in steel prices
and the Company’s ability to offset increases in steel prices
through price increases in its products; (iv) the timing of
orders for the Company’s products; (v) decreases in United
States government spending on projects using the Company’s
products, and challenges to the Company’s non-government customers’
liquidity and access to capital funds; (vi) the Company’s
ability to successfully negotiate progress-billing arrangements for
its large contracts; (vii) fluctuations in crude oil and
natural gas prices; (viii) risks and uncertainties related to the
Company’s international business operations; (ix) the
Company’s ability to repay its debt and renew expiring
international credit facilities; (x) aggressive pricing by
existing competitors and the entrance of new competitors in the
markets in which the Company operates; (xi) the Company’s
ability to purchase raw materials at favorable prices and to
maintain beneficial relationships with its suppliers;
(xii) the Company’s ability to manufacture products free of
latent defects and to recover from suppliers who may provide
defective materials to the Company; (xiii) reductions or
cancellations of orders included in the Company’s backlog;
(xiv) the Company’s ability to attract and retain senior
management and key personnel; (xv) the Company’s ability to
achieve the expected benefits of its growth initiatives;
(xvi) the Company’s ability to interpret changes in tax
regulations and legislation; (xvii) reversals of previously
recorded revenue and profits resulting from inaccurate estimates
made in connection with the Company’s percentage-of-completion
revenue recognition; (xviii) the Company’s failure to
establish and maintain effective internal control over financial
reporting; and (xix) the impact of cybersecurity threats on
the Company’s information technology systems. Shareholders,
potential investors and other readers are urged to consider these
factors carefully in evaluating the forward-looking statements and
are cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements made herein are made
only as of the date of this press release and we undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
More detailed information about factors that may affect the
Company’s performance may be found in the Company’s filings with
the Securities and Exchange Commission, which are available
at https://www.sec.gov and under the Investor Center
section of the Company’s website
(http://investors.permapipe.com).
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version on businesswire.com: https://www.businesswire.com/news/home/20190416005096/en/
David Mansfield, President and CEOPerma-Pipe
Investor
Relations847.929.1200investor@permapipe.com
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