WESTPORT, Conn., Nov. 11, 2014 /PRNewswire/ -- Compass Diversified
Holdings (NYSE: CODI), announced today that it has priced a public
offering of 6,000,000 trust shares at a price of $17.50 per share. CODI expects to
receive approximately $105.0
million of gross proceeds from the offering. The
underwriters will have a 30-day option to purchase up to an
additional 900,000 trust shares from CODI. CODI will use the
net proceeds from the offering to repay a portion of the
outstanding balance of its revolving credit facility. The closing
is expected to occur on or about November
14, 2014, subject to customary closing conditions.
BofA Merrill Lynch, Morgan Stanley and Jefferies are the joint
book-running managers on the offering, with BB&T Capital
Markets, a division of BB&T Securities, LLC, CJS Securities,
Janney Montgomery Scott LLC, Raymond
James and William Blair
acting as co-managers. A copy of the final prospectus relating to
the offering may be obtained (when available) from the following
address:
BofA Merrill
Lynch
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Morgan
Stanley
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Attn: Prospectus
Department
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Attn: Prospectus
Dept.
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222
Broadway
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180 Varick Street,
2nd Floor
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New York, NY
10038
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New York, NY
10014
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Email:
dg.prospectus_requests@baml.com
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|
|
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Jefferies
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Attn: Equity
Syndicate Prospectus Department
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520 Madison Avenue,
2nd Floor
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New York, NY
10022
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Email:
Prospectus_Department@Jefferies.com
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Telephone:
877-547-6340
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The offering was made pursuant to an effective shelf
registration statement and prospectus filed by CODI with the
Securities and Exchange Commission ("SEC"). You may obtain copies
of the registration statement and the final
prospectus for free when they are available by visiting EDGAR
on the SEC web site at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus meeting the requirements of Section
10 of the Securities Act of 1933, as amended.
About Compass Diversified Holdings ("CODI")
CODI owns
and manages a diverse family of established North American middle
market businesses. Each of its current subsidiaries is a leader in
its niche market.
CODI maintains controlling ownership interests in each of its
subsidiaries in order to maximize its ability to impact long term
cash flow generation and value. The Company provides both debt and
equity capital for its subsidiaries, contributing to their
financial and operating flexibility. CODI utilizes the cash flows
generated by its subsidiaries to invest in the long-term growth of
the Company and to make cash distributions to its shareholders.
Our nine majority-owned subsidiaries are engaged in the
following lines of business:
- The manufacture of quick-turn, prototype and production rigid
printed circuit boards (Advanced Circuits);
- The design and manufacture of promotionally priced upholstered
furniture (American Furniture Manufacturing);
- The design and manufacture of medical therapeutic support
surfaces and other wound treatment devices (Anodyne Medical
Device, also doing business and known as Tridien
Medical);
- The manufacture of engineered magnetic solutions for a wide
range of specialty applications and end-markets (Arnold Magnetic
Technologies);
- The design and manufacture of personal hydration products for
outdoor, recreation and military use (CamelBak
Products);
- Environmental services for a variety of contaminated materials
including soils, dredged material, hazardous waste and drill
cuttings (Clean Earth);
- The design and marketing of wearable baby carriers, strollers
and related products (Ergobaby);
- The design and manufacture of premium home and gun safes
(Liberty Safe); and
- The manufacture and marketing of portable food warming fuel and
creative table lighting solutions for the foodservice industry
(SternoCandleLamp).
In addition, we own approximately 41% of the common stock of Fox
Factory Holding Corp. ("FOX", Nasdaq: FOXF), a former subsidiary
business that completed its initial public offering in August 2013. FOX designs and manufactures
high-performance suspension products primarily for mountain bikes,
side-by-side vehicles, on-road and off-road vehicles and trucks,
all-terrain vehicles, snowmobiles, specialty vehicles and
applications, and motorcycles.
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of CODI. Words such as "believes," "expects,"
"projects," and "future" or similar expressions, are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these
forward-looking statements, and some of these factors are
enumerated in the risk factor discussion in the Form 10-K filed by
CODI with the SEC for the year ended December 31, 2013, the Form 10-Q filed by
CODI with the SEC for the quarter ended September 30, 2014 and other filings with
the SEC. CODI undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE Compass Diversified Holdings