Key Developments For Horsehead Holding Corp.
Horsehead Holding Corp. (ZINC.O) (Nasdaq)
HORSEHEAD HOLDING CORP. Announces Completion of Common Stock Offering, Including the Full Exercise of the Underwriters' Over-allotment Option
HORSEHEAD HOLDING CORP. announced the successful completion of its previously announced underwritten public offering of 8,050,000 shares of common stock at $10.50 per share, including 1,050,000 shares sold pursuant to the underwriters' exercise of their over-allotment option to purchase additional shares. The Company received approximately $79.8 million in net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, acquisitions, working capital, investments and the repayment of indebtedness. Stifel, Nicolaus & Company, Incorporated acted as sole book-running manager for the offering. Canaccord Adams, Inc., FBR Capital Markets & Co. and Raymond James & Associates, Inc. acted as co-managers.
HORSEHEAD HOLDING CORP. Announces Increased Size and Pricing of its Public Offering of Common Stock
HORSEHEAD HOLDING CORP. announced that it has increased the number of shares of its common stock to be sold in its underwritten public offering from 6,000,000 to 7,000,000 shares, and has priced the offering at $10.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock from the Company to cover over-allotments, if any. The closing of the offering is expected to occur on or about September 16, 2009. After deducting underwriting discounts and commissions and estimated offering expenses, the Company expects to receive $69.4 million in net proceeds from the offering, plus any proceeds received from the exercise by the underwriters of their over-allotment option. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, acquisitions, working capital, investments and the repayment of indebtedness. Stifel, Nicolaus & Company, Incorporated is acting as sole book-running manager for the offering. Canaccord Adams, Inc., FBR Capital Markets & Co. and Raymond James & Associates, Inc. are acting as co-managers.
HORSEHEAD HOLDING CORP. Announces Proposed Public Offering Of Common Stock
HORSEHEAD HOLDING CORP. announced that it has commenced an underwritten public offering of 6,000,000 shares of its common stock pursuant to an effective shelf registration statement on Form S-3 (File No. 333-160625) previously filed with the Securities and Exchange Commission. All of the shares of common stock will be offered by the Company. The underwriters will be granted a 30-day option to purchase up to an additional 900,000 shares of common stock from the Company. Net proceeds from the offering are expected to be used for general corporate purposes, which may include capital expenditures, acquisitions, working capital, investments and the repayment of indebtedness. Stifel, Nicolaus & Company, Incorporated will act as sole book-running manager for the offering. Canaccord Adams, Inc., FBR Capital Markets & Co. and Raymond James & Associates, Inc. will act as co-managers.
HORSEHEAD HOLDING CORP. Announces Plans To Resume Recycling Operations In Tennessee
Zinc producer Horsehead Corporation, a wholly owned subsidiary of HORSEHEAD HOLDING CORP. announced that it plans to resume operations at its Rockwood, TN recycling facility by re starting one of its two kilns in mid September 2009.
HORSEHEAD HOLDING CORP. Completes Financing for Barnwell Project
HORSEHEAD HOLDING CORP. announced that it has completed a financing arrangement under the New Markets Tax Credit Program (NMTC) to help fund its expansion project in Barnwell, South Carolina. The arrangement provides $5.9 million of NMTC equity to be used for completion of development of the site. The NMTC financing was arranged through two Community Development Entities (CDEs), Banc of America CDE III, LLC and CCM Community Development IV LLC, an affiliate of Coastal Enterprises, Inc. One feature of the NMTC financing is that the $5.9 million of equity contribution from the CDEs may be purchased by the Company at the end of seven years for a nominal amount.
