Advanced Energy Announces Pricing of Common Stock Offering
August 12 2005 - 8:00AM
PR Newswire (US)
FORT COLLINS, Colo., Aug. 12 /PRNewswire-FirstCall/ -- Advanced
Energy Industries, Inc. (NASDAQ:AEIS) today announced that it has
priced its offering of 10,000,000 shares of common stock at a
public offering price of $9.75 per share. The common stock is
expected to be issued on August 17, 2005, subject to customary
conditions. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO) Advanced
Energy expects to receive net proceeds of approximately $92.1
million from the sale of the 10,000,000 shares, after deducting
underwriting discounts and estimated offering expenses. If the
underwriters elect to exercise in full their option to purchase an
additional 1,500,000 shares of common stock to cover
over-allotments, Advanced Energy will receive an additional
approximately $13.9 million in net proceeds. Advanced Energy plans
to use approximately $68.1 million of the proceeds from the
offering to redeem its 5 1/4% convertible subordinated notes due
2006, and to use the remainder for working capital and general
corporate purposes, which could include the redemption or
repurchase of its 5% convertible subordinated notes due 2006.
Citigroup Global Markets Inc. is acting as the sole book runner and
is the joint lead with Lehman Brothers Inc. for the offering. Adams
Harkness, Inc. and Needham & Company, LLC are co-managers. This
press release does 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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The offering is being made only by means of a prospectus supplement
and the accompanying prospectus. A prospectus supplement and the
accompanying base prospectus will be filed with the Securities and
Exchange Commission and will be available on the SEC's website at
http://www.sec.gov/. Copies of the prospectus supplement and
accompanying base prospectus also are available from Citigroup
Global Markets Inc. at Brooklyn Army Terminal, 140 58th Street, 8th
Floor, Brooklyn, NY 11220 or 718-765-6732. Advanced Energy is a
global leader in the development and support of technologies
critical to high-technology manufacturing processes used in the
production of semiconductors, flat panel displays, data storage
products, compact discs, digital video discs, architectural glass,
and other advanced product applications.
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
http://photoarchive.ap.org/ DATASOURCE: Advanced Energy Industries,
Inc. CONTACT: Mike El-Hillow, Executive Vice President, Chief
Financial Officer, +1-970-407-6570, , or Cathy Kawakami, Director,
Corporate and Investor Relations, +1-970-407-6732, , both of
Advanced Energy Industries, Inc.
Copyright
Advanced Energy Industries (NASDAQ:AEIS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Advanced Energy Industries (NASDAQ:AEIS)
Historical Stock Chart
From Jul 2023 to Jul 2024