LUXEMBOURG--(BUSINESS WIRE)--Orion Engineered Carbons S.A. (NYSE: OEC) (the “Company” or “Orion”) a
worldwide supplier of specialty and high-performance Carbon Black,
announced today the closing of the secondary offering of an aggregate
10,000,000 common shares of the Company by Kinove Luxembourg Holdings 1
S.à r.l. (“Kinove Holdings”) and certain other sellers, including
current and former members of Orion’s management team, in an
underwritten public offering, at a price to the public of $21.85
resulting in gross proceeds to the selling shareholders of $218.5
million, before deducting underwriting discounts and commissions (which
will be paid by the selling shareholders). Kinove Holdings sold
9,076,696 common shares and the other selling shareholders sold the
remaining 923,304 shares. The selling shareholders received all of the
net proceeds from the sale of these shares.
In addition, the selling shareholders granted the underwriters a 30-day
option to purchase up to an additional 1,500,000 common shares at the
public offering price, less the underwriting discount.
Barclays Capital Inc. and Morgan Stanley & Co. LLC acted as the joint
book-running managers for the offering.
The offering was made pursuant to an effective shelf registration
statement, prospectus and prospectus supplement filed by the Company.
Copies of the prospectus supplement and the accompanying prospectus may
be obtained from Barclays Capital Inc., 745 7th Ave, New York, New York
10019 or from Morgan Stanley & Co. LLC, 1585 Broadway, New York, New
York 10036 email: prospectus@morganstanley.com.
A registration statement relating to the Company’s common stock has been
filed with the U.S. Securities and Exchange Commission and was declared
effective on April 1, 2016. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About Orion Engineered Carbons
Orion is a worldwide supplier of Carbon Black. We produce a broad range
of Carbon Blacks that include high-performance Specialty Gas Blacks,
Furnace Blacks, Lamp Blacks, Thermal Blacks and other Carbon Blacks that
tint, colorize and enhance the performance of polymers, plastics, paints
and coatings, inks and toners, textile fibers, adhesives and sealants,
tires, and mechanical rubber goods such as automotive belts and hoses.
Orion runs 14 global production sites and four Applied Technology
Centers. The group has approximately 1,440 employees worldwide. For more
information please visit our website www.orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements, including
statements relating to the proposed offering. These statements
constitute forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements of future expectations that are based on
current expectations and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or events
to differ materially from those expressed or implied in these
statements. You should not place undue reliance on forward-looking
statements. Each forward-looking statement speaks only as of the date of
the particular statement. New risk factors and uncertainties emerge from
time to time and it is not possible to predict all risk factors and
uncertainties, nor can we assess the extent to which any factor, or
combination of factors, may cause actual results to differ materially
from those contained in any forward-looking statements. We undertake no
obligation to publicly update or revise any forward-looking statement as
a result of new information, future events or other information, other
than as required by applicable law.
