Vector Group Announces Proposed Public Offering of 5,000,000 Shares of Common Stock
May 13 2020 - 4:13PM
Business Wire
Vector Group Ltd. (NYSE: VGR) today announced that it has
commenced an underwritten public offering (“the Offering”) of
5,000,000 shares of its common stock. All of the shares to be sold
in the Offering will be offered by Vector Group. Vector Group
expects to grant the underwriter a 30-day option to purchase up to
an additional 750,000 shares of Vector Group’s common stock at the
Offering price. Vector Group currently intends to use the net
proceeds from the Offering for general corporate purposes. The
Offering is subject to market and other conditions, and there can
be no assurance as to whether or when the Offering may be
completed, or the actual size or terms of the Offering.
The Offering is being made only by means of a prospectus
supplement and the accompanying prospectus, copies of which, when
available, may be obtained from the offices of Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, telephone: 1-877-821-7388,
or by emailing Prospectus_Department@Jefferies.com.
The shares of Vector Group’s common stock will be issued
pursuant to an effective automatic shelf registration statement on
Form S-3. Before investing in the Offering, interested parties
should read the prospectus and related prospectus supplement for
the Offering, the documents incorporated by reference therein and
the other documents Vector Group has filed with the U.S. Securities
and Exchange Commission (“SEC”). These documents may be obtained
for free by visiting the SEC’s website at www.sec.gov. This press
release is for informational purposes only and shall not constitute
an offer to sell or a solicitation of an offer to buy any of these
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
applicable securities laws of such state or jurisdiction.
Jefferies LLC is acting as the book-running manager of the
offering.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The Company has tried, whenever possible, to identify
these forward-looking statements using words such as “anticipates”,
“believes”, “estimates”, “expects”, “plans”, “intends”, “could” and
similar expressions. These statements reflect the Company’s current
beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
the Company’s actual results, performance or achievements to differ
materially from those expressed in, or implied by, such
statements.
All information set forth in this press release is as of May 13,
2020. Vector Group does not intend, and undertakes no duty, to
update this information to reflect future events or circumstances.
Risk factors and uncertainties that may cause actual results to
differ materially from expected results include, among others, its
ability to successfully complete the proposed offering.
About Vector Group Ltd.
Vector Group is a holding company for Liggett Group LLC, Vector
Tobacco Inc., New Valley LLC, and Douglas Elliman Realty, LLC.
Additional information concerning the company is available on the
Company's website, www.VectorGroupLtd.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200513005809/en/
Vector Group Ltd. J. Bryant Kirkland III 305-579-8000 or Sard
Verbinnen & Co Emily Claffey/Ben Spicehandler/Columbia Clancy
212-687-8080
Vector (NYSE:VGR)
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