U.S. Silica (SLCA) Says underwriters Exercised Option to Purchase Additional 1.35M Shares
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U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today the full exercise of the underwriters' option to purchase 1,350,000 additional shares of its common stock. The option was granted by U.S. Silica to the underwriters in connection with the previously consummated public offering of 9,000,000 shares of common stock. Settlement of the sale of the additional shares is expected to occur on November 23, 2016, subject to customary closing conditions.
U.S. Silica intends to use the net proceeds from the sale of the additional shares of common stock to fund general corporate purposes including potential acquisitions of complementary businesses or assets.
Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering.
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