Standard Motor Products (SMP) To Offer 4M Shares
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- Standard Motor Products (SMP) To Offer 4M Shares
Standard Motor Products, Inc. (NYSE: SMP) plans to offer 4,000,000 shares of its common stock in an underwritten registered public offering.
The Company intends to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its revolving credit facility. The Company then intends to borrow funds from time to time under its revolving credit facility for general corporate purposes.
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