Mistras Group, Inc. Prices Common Stock Offering
May 05 2011 - 5:48PM
Mistras Group, Inc. (NYSE:MG), a leading "one source" global
provider of technology-enabled asset protection solutions,
announced today the pricing of the previously announced public
offering of 3,264,401 shares of its common stock, at a price to the
public of $16.00 per share. TC NDT Holdings, L.L.C. (the "selling
stockholder"), an entity affiliated with Thayer | Hidden Creek
Partners, offered 2,764,401 shares of common stock and the Company
offered 500,000 shares of common stock. In addition, the
Company granted the underwriters an option for 30 days to purchase
up to an aggregate of 489,660 additional primary shares of common
stock to cover overallotments, if any. The closing of the
offering is expected to take place on or about May 11, 2011,
subject to the satisfaction of customary closing conditions.
The Company will not receive any of the proceeds from the sale
of the shares of common stock by the selling stockholder. The
net proceeds to the Company from the offering of the 500,000 shares
of common stock will be approximately $7.3 million, after deducting
the underwriting discounts and commissions and estimated offering
expenses payable by the Company.
J.P. Morgan and BofA Merrill Lynch are acting as joint
book-running managers for the offering. Baird, Stephens Inc.,
and KeyBanc Capital Markets are acting as co-managers for the
offering.
The shares of common stock are being offered pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission ("SEC"). A prospectus supplement and
the accompanying base prospectus related to the offering have been
filed with the SEC and may be obtained by visiting EDGAR on the
SEC's website, http://www.sec.gov. Alternatively, copies of
the prospectus supplement and the accompanying base prospectus may
be obtained by contacting: J.P. Morgan, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone:
(866) 803-9204 or BofA Merrill Lynch, 4 World Financial Center, New
York, NY 10080, attention: Prospectus Department, email:
dg.prospectus_requests@baml.com.
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any security of the Company nor shall there be any sale of any
such security 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 other
jurisdiction.
About Mistras Group, Inc.
Mistras offers "one source" services and technology-enabled
asset protection solution portfolios used to evaluate the
structural integrity of energy, industrial and public
infrastructure. Mission critical services and solutions are
delivered globally and provide customers with the ability to extend
the useful life of their assets, improve productivity and
profitability, comply with government safety and environmental
regulations and enhance risk management operational decisions.
Mistras combines its products and technologies - 24/7 on-line
monitoring of critical assets; mechanical integrity and
non-destructive testing services; and its proprietary data
warehousing and analysis software - to provide comprehensive and
competitive products, systems and services solutions from a single
source provider.
The MISTRAS Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6966
Forward-Looking Statements
Certain statements made in this press release are
"forward-looking statements" about Mistras' financial results and
estimates, products and services, business model, strategy, growth
opportunities, profitability and competitive position. These
forward-looking statements generally use words such as "future,"
"possible," "potential," "targeted," "anticipate," "believe,"
"estimate," "expect," "intend," "plan," "predict," "project,"
"will," "may," "should," "could," "would" and other similar words
and phrases. Such statements are not guarantees of future
performance or results, and will not necessarily be accurate
indications of the times at, or by which, such performance or
results will be achieved, if at all. These statements are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
these statements. A list, description and discussion of these
and other risks and uncertainties can be found in the "Risk
Factors" section of the Company's Annual Report on Form 10-K filed
with the SEC on August 17, 2010, the preliminary prospectus
supplement and the accompanying base prospectus referred to above,
and reports filed by the Company with the SEC on Form 10-Q.
The forward-looking statements are made as of the date
hereof, and Mistras undertakes no obligation to update such
statements as a result of new information, future events or
otherwise.
CONTACT: Nestor S. Makarigakis
Manager of Marketing and Communications
1(609) 716-4000
marcom@mistrasgroup.com
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