PITTSBURGH, Nov. 28 /PRNewswire-FirstCall/ -- Koppers Holdings Inc. (NYSE: KOP) announced today a secondary offering of 1,750,000 shares of the Company's common stock. The shares are being offered through UBS Investment Bank. The underwriter also has a 30-day option to purchase up to an additional 262,500 shares of common stock to cover over-allotments, if any.
All of the shares are currently issued and outstanding. The shares are being sold by Koppers' largest shareholder, Saratoga Partners III, LP and affiliated companies ("Saratoga") which, after the consummation of this proposed offering, will own approximately 20% of Koppers' outstanding shares, excluding the effect of shares sold for over-allotments, if any. Saratoga is a private equity firm.
Koppers will not receive any proceeds from the sale.
As part of the offering, the Company, Saratoga, and certain officers will be subject to a 60-day "lock-up" period, subject to certain exceptions, including exceptions relating to 10b5-1 trading plans for officers.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. A written prospectus may be obtained, when available, from UBS Investment Bank at 299 Park Avenue, New York, NY 10171, Attn: Prospectus Department; 212 821 3000.
About Koppers
Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol "KOP." For more information, visit us on the Web: www.koppers.com. Questions concerning investor relations should be directed to Brian H. McCurrie at 412 227 2153 or Michael W. Snyder at 412 227 2131.
Safe Harbor Statement
This news release may contain forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward- looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; the loss of one or more key customer or supplier relationships; customer insolvencies; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost and availability of raw materials; and other economic, business, competitive, regulatory and/or operational factors affecting the business of Koppers generally.
SOURCE Koppers Holdings Inc.
CONTACT:
Brian H. McCurrie, Vice President and Chief Financial Officer
of Koppers Holdings Inc.
+1-412-227-2153
or McCurrieBH@koppers.com
http://www.koppers.com