FMSA Holdings Inc. (FMSA) Prices Larger 30.25M Common Stock Offering for Proceeds of ~$286M

October 20, 2016 5:58 AM EDT
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Fairmount Santrol (NYSE: FMSA) announced the pricing of its underwritten public offering of 30,250,000 shares of Fairmount Santrol common stock, upsized from 28,000,000 shares of common stock, for total gross proceeds of approximately $285.9 million before deducting underwriting commissions and estimated offering expenses. The underwriter will be granted a 30-day option to purchase up to an additional 4,537,500 shares of common stock. The underwriter may offer the shares from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is expected to close on October 25, 2016, subject to customary closing conditions.

Fairmount Santrol intends to use the net proceeds of the offering for general corporate purposes, which may include, but are not limited to, repayment, repurchase or refinancing of debt and leases, working capital, capital expenditures, acquisitions permitted under its credit agreement, investments in or loans to subsidiaries and joint ventures and satisfaction of other obligations.

Morgan Stanley & Co. LLC is acting as sole book-running manager for the offering. This offering is being made by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained by sending a request to: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd floor, New York, NY 10014.

This offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company's common stock or any other securities, and there shall not be any offer, solicitation or sale of securities mentioned in this press release 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 jurisdiction.

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