Charah Solutions, Inc. Announces Pricing of Initial Public Offering
June 13 2018 - 9:33PM
Business Wire
Charah Solutions, Inc. (“Charah”) announced today the pricing of
its initial public offering of 7,352,941 shares of its common stock
at $12.00 per share pursuant to a registration statement on Form
S-1 (the “Registration Statement”) filed with the U.S. Securities
and Exchange Commission (the “SEC”). Of the 7,352,941 shares of
Charah’s common stock to be sold in the offering, Charah is
offering 5,294,117 shares and the selling stockholders named in the
Registration Statement (the “Selling Stockholders”) are offering
2,058,824 shares. The shares are expected to begin trading on the
New York Stock Exchange under the ticker symbol “CHRA” on June 14,
2018. In addition, the Selling Stockholders granted the
underwriters a 30-day option to purchase up to an additional
1,102,941 shares of Charah’s common stock at the initial public
offering price, less underwriting discounts and commissions. The
offering is expected to close on June 18, 2018, subject to
customary closing conditions.
Charah expects to receive approximately $51.4 million of net
proceeds from the offering. Charah expects to use the net proceeds
from the offering to repay borrowings outstanding under its term
loan and the remaining net proceeds for general corporate purposes.
Charah will not receive any of the proceeds from the sale of shares
of Charah’s common stock by the Selling Stockholders.
Morgan Stanley and BofA Merrill Lynch are acting as joint
book-running managers for the offering. Stifel is acting as a
bookrunner for the offering. Macquarie Capital, First Analysis
Securities Corp. and Houlihan Lokey are acting as co-managers for
the offering. The offering of these securities is being made only
by means of a prospectus. When available, a copy of the prospectus
may be obtained from:
- Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014
- BofA Merrill Lynch, NC1-004-03-43,
Attention: Prospectus Department, 200 North College Street, 3rd
Floor, Charlotte, NC 28255-0001 or by email at
dg.prospectus_requests@baml.com
Important Information
A registration statement relating to these securities has been
filed with, and declared effective by, the SEC. The registration
statement may be obtained free of charge at the SEC’s website
at www.sec.gov under “Charah Solutions, Inc.” 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.
About Charah Solutions, Inc.
Based in Louisville, KY, Charah Solutions, Inc. is a provider of
environmental and maintenance services to the power generation
industry, with operations in coal-fired and nuclear power
generation sites across the country.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent Charah’s expectations or beliefs concerning
future events, and it is possible that the results described in
this press release will not be achieved. These forward-looking
statements are subject to risks, uncertainties and other factors,
many of which are outside of Charah’s control, which could cause
actual results to differ materially from the results discussed in
the forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by law, Charah does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. New factors emerge from time to time, and it is not
possible for Charah to predict all such factors. When considering
these forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in the prospectus filed
with the SEC in connection with Charah’s initial public offering.
The risk factors and other factors noted in Charah’s prospectus
could cause its actual results to differ materially from those
contained in any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20180613006343/en/
Charah Solutions, Inc.Charles W. Price, 502-245-1353orJoele
Frank, Wilkinson Brimmer KatcherEd Trissel/Jon Keehner/Kate Clark,
212-355-4449
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