Dana to Repurchase All Series A Preferred Shares, Launches $600 Million Senior Notes Offering
This transaction will allow Dana to deliver value to all of its shareholders by simplifying its capital structure and reducing the number of fully diluted shares outstanding by approximately 10 percent. At the completion of this transaction, Dana will have repurchased approximately
Upon completion of the transaction, the Series A preferred shares owned by
"On behalf of the Dana board, I'd like to personally thank
Mr. Gallogly, Managing Principal of
Dana Launches
Dana also announced that it is commencing, subject to market conditions, a registered offering of
The offering is being made pursuant to the company's automatic shelf registration statement on Form S-3 filed with the
A prospectus and prospectus supplement concerning the offering may be obtained from:
Citigroup Global Markets Inc. , c/oBroadridge Financial Solutions ,1155 Long Island Avenue ,Edgewood, NY 11717, Attention: Prospectus Department, by calling 1-800-831-9146, or by emailing batprospectusdept@citigroup.com;Merrill Lynch, Pierce, Fenner & Smith Incorporated , at4 World Financial Center ,New York, NY 10080, Attention: Syndicate Operations, by calling 1-800-294-1322, or by emailing dg.prospectus_requests@baml.com;BarclaysCapital Inc. , c/oBroadridge Financial Solutions ,1155 Long Island Avenue ,Edgewood, NY 11717, Attention: Prospectus Department, by calling 1-888-603-5847, or by emailing barclaysprospectus@broadridge.com;DeutscheBankSecurities Inc. , c/o ADP Prospectus Services,1155 Long Island Ave. ,Edgewood, NY 11747, by calling 1-800-503-4611, or by emailing prospectus.cpdg@db.com;J.P. Morgan Securities LLC , c/oBroadridge Financial Solutions ,1155 Long Island Ave ,Edgewood, NY 11717, Attention: Prospectus Department or by calling 1-866-803-9204.UBS Securities LLC , Prospectus Department,299 Park Avenue ,New York, NY 10171, or by calling 1-888-827-6444, ext. 561-3884; orWells Fargo Securities, LLC ,550 South Tryon Street , 7th Floor, MAC D1086-070,Charlotte, NC 28202, by calling 1-800-326-5897, or by emailing cmclientsupport@wellsfargo.com.
This news 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 state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Forward-Looking Statements
Certain statements and projections contained in this news release are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Dana's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other
About
Dana is a world-leading supplier of driveline, sealing, and thermal-management technologies that improve the efficiency and performance of passenger, commercial, and off-highway vehicles with both conventional and alternative-energy powertrains. The company's global network of engineering, manufacturing, and distribution facilities provides original-equipment and aftermarket customers with local product and service support. Based in
SOURCE
Investor Contact, Craig Barber, 419.887.5166; or Media Contact, Jeff Cole, 419.887.3535