Standard Motor Products (SMP) To Offer 4M Shares
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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.
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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