Owens Corning/Fibreboard Asbestos Personal Injury Trust Prices Secondary Offering of Owens Corning Common Stock
February 25 2010 - 8:32AM
PR Newswire (US)
TOLEDO, Ohio, Feb. 25, 2010 /PRNewswire-FirstCall/ -- Owens Corning
(NYSE: OC) today announced that one of its stockholders, the Owens
Corning/Fibreboard Asbestos Personal Injury Trust (the "Trust"),
priced its previously announced secondary offering of 12,261,000
shares of its common stock at a price to the public of $23.75 per
share. Owens Corning will not sell any shares in the offering and
will not receive any proceeds from the offering. The Trust has
granted the underwriters a 30-day option to purchase up to an
additional 1,839,000 shares of common stock, on the same terms and
conditions, to cover over-allotments, if any. The offering is being
conducted as a public offering pursuant to an effective shelf
registration statement under the Securities Act of 1933. The
offering is expected to close on March 2, 2010, subject to
customary closing conditions. BofA Merrill Lynch and J.P. Morgan
are acting as joint book-running managers of the equity offering.
Wells Fargo Securities is the co-manager for the equity offering.
This press release shall not constitute an offer to sell or the
solicitation of any 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 registration or
qualification under the securities laws of any such state or
jurisdiction. The offering of these securities will be made only by
means of a prospectus, copies of which may be obtained from: BofA
Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn:
Preliminary Prospectus Department or email or J.P. Morgan, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717. About Owens Corning Owens Corning (NYSE:OC) is a leading
global producer of residential and commercial building materials,
glass-fiber reinforcements and engineered materials for composite
systems. A Fortune 500 Company for 55 consecutive years, Owens
Corning is committed to driving sustainability by delivering
solutions, transforming markets and enhancing lives. Founded in
1938, Owens Corning is a market-leading innovator of glass-fiber
technology with sales of $4.8 billion in 2009 and about 16,000
employees in 28 countries on five continents. DATASOURCE: Owens
Corning CONTACT: Investor & Media Relations of Owens Corning,
Scott Deitz, +1-419-248-8935 Web Site: http://www.owenscorning.com/
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