Innophos Announces Launch of $175 Million Offering of Senior PIK Toggle Notes Due 2026
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CRANBURY, N.J., Feb. 3, 2021 /PRNewswire/ -- Iris Holdings, Inc., a Delaware corporation (the "Issuer") and an affiliate of Innophos Holdings, Inc., a Delaware corporation, ("Innophos"), announced today that the Issuer intends to commence a private offering (the "Offering") of $175 million aggregate principal amount of Senior PIK Toggle Notes due 2026 (the "Notes").
The Issuer intends to use the proceeds of the Offering to pay a dividend to the Issuer's shareholders, including certain investment funds managed by One Rock Capital Partners, LLC ("One Rock"), and to pay certain fees, commissions and related expenses.
The Notes will be offered in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Notes have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
Innophos is a leading international producer of specialty ingredient solutions that deliver far-reaching, versatile benefits for the food, health, nutrition and industrial markets. Innophos leverages its experience in the science and technology of specialty phosphate and nutrition products to provide our customers with both functional and nutritional solutions to ultimately formulate tasty, healthy, safe and economical products for end customers. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations across the United States, in Canada, Mexico and China.
About One Rock Capital Partners, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced operating partners to identify, acquire and enhance businesses in select industries. The involvement of these operating partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its operating partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.
This news release includes statements that are forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the closing of the Offering and the use of proceeds therefrom and any other statements regarding Innophos' future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "probable," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "would," "potential," "may," "might," "anticipate," "likely," "plan," "positioned," "strategy," and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. One Rock, the Issuer and Innophos caution against putting undue reliance on forward-looking statements or projecting any future results based on such statements. Forward-looking statements speak only as of the date of the particular statement, and none of One Rock, the Issuer or Innophos undertake to update any forward-looking statements contained herein.
SOURCE Innophos Holdings, Inc.
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