ArvinMeritor Announces Pricing and Increased Size of Common Stock Offering
February 25 2010 - 7:06PM
PR Newswire (US)
TROY, Mich., Feb. 25 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc.
(NYSE: ARM) today announced that it priced an underwritten public
offering of 17,350,000 shares of common stock, par value $1 per
share, at a price of $10.50 per share. The size of the offering was
increased from the previously announced 15,000,000 shares. In
connection with this offering, ArvinMeritor has granted the
underwriters an over-allotment option to purchase up to 2,602,500
additional shares of its common stock. The offering is expected to
close on March 3, 2010, subject to customary closing conditions.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO)
ArvinMeritor intends to use the net proceeds from the offering to
repay amounts outstanding under its revolving secured credit
facility and its U.S. accounts receivable securitization program
and for general corporate purposes. J.P. Morgan Securities Inc.,
Citi and UBS Investment Bank are acting as joint book-running
managers for the offering. This press release is not an offer to
sell and is not soliciting an offer to buy any of the securities,
nor shall there be any offer or sale of the securities in any
jurisdiction where the offer or sale is not permitted. The offering
of securities is being made by means of a prospectus supplement and
accompanying prospectus. Copies of the prospectus supplement and
the accompanying prospectus can be obtained from: J.P. Morgan
Securities Inc. Attn: Broadridge Financial Solutions 1155 Long
Island Avenue Edgewood, New York 11717 Telephone: 1-866-803-9204
Citi Brooklyn Army Terminal 140 58th Street, 8th Floor Brooklyn,
New York 11220 Telephone: 1-877-858-5407 UBS Investment Bank Attn:
Prospectus Department 299 Park Avenue New York, New York 10171
Telephone: 1-888-827-7275 ArvinMeritor, Inc. is a global supplier
of a broad range of integrated systems, modules and components to
original equipment manufacturers and the aftermarket for the
transportation and industrial sectors. The company serves
commercial truck, trailer and specialty original equipment
manufacturers and certain aftermarkets, and light vehicle
manufacturers. ArvinMeritor common stock is traded on the New York
Stock Exchange under the ticker symbol ARM. Forward-Looking
Statements This press release contains statements relating to
future results of the company (including certain projections and
business trends) that are "forward-looking statements" as defined
in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are typically identified by words or
phrases such as "believe," "expect," "anticipate," "estimate,"
"should," "are likely to be," "will" and similar expressions.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including but not
limited to those detailed from time to time in filings of the
company with the SEC. These forward-looking statements are made
only as of the date hereof, and the company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as otherwise required by law.
http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGODATASOURCE:
ArvinMeritor, Inc. CONTACT: Media Inquiries, Lin Cummins,
+1-248-435-7112, ; Investor Inquiries, Brett Penzkofer,
+1-248-435-9426, Web Site: http://www.arvinmeritor.com/
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