NEW YORK, Oct. 27 /PRNewswire-FirstCall/ -- Standard Motor Products, Inc.
(NYSE: SMP), an automotive replacement parts manufacturer and distributor,
announced today that it plans to offer 4,000,000 shares of its common stock in
an underwritten registered public offering. In connection with this offering,
the Company also intends to grant the underwriters a 30-day option to purchase
up to 600,000 additional shares. Goldman, Sachs & Co. is serving as the sole
book-runner, with BB&T Capital Markets as a co-manager for the offering.
The Company intends to use the net proceeds from the offering to repay a
portion of its outstanding indebtedness under its revolving credit facility.
The Company then intends to borrow funds from time to time under its revolving
credit facility for general corporate purposes.
The shares will be issued pursuant to an effective shelf registration
statement that was previously filed with the Securities and Exchange
Commission. A preliminary prospectus supplement related to the offering will
be filed with the Securities and Exchange Commission and will be available on
the SEC's website, http://www.sec.gov. Before you invest, you should read the
preliminary prospectus supplement and the accompanying base prospectus for
more complete information about the Company and the offering. Copies of the
prospectus supplement and accompanying base prospectus related to this
offering may be obtained from Goldman, Sachs & Co. via telephone: (866)
471-2526; facsimile: (212) 902-9316; email: prospectus-ny@ny.email.gs.com; or
standard mail at Goldman, Sachs & Co., Prospectus Department, 85 Broad Street,
New York, NY 10004.
This 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.
SOURCE Standard Motor Products, Inc.
James J. Burke of Standard Motor Products, Inc., +1-718-392-0200; or Jennifer
Tio of Maximum Marketing Services, Inc., +1-312-226-4111, ext. 2449,
Jennifer.tio@maxmarketing.com, for Standard Motor Products, Inc.
