Tower International Announces the Completion of its Secondary Public Offering
LIVONIA, Mich., July 31, 2013 /PRNewswire/ -- Tower International, Inc. [NYSE: TOWR], a leading integrated global manufacturer of engineered structural metal components and assemblies, today announced the completion of a previously disclosed secondary public offering of its common stock by Tower International Holdings, LLC. Tower International Holdings, LLC is an affiliate of Cerberus Capital Management, L.P. and was the sole selling stockholder in the offering. After giving effect to a partial exercise by the underwriters of their option to purchase additional shares, Tower International Holdings, LLC sold a total of 7,888,122 shares of common stock, with an initial price to the public of $21.25 per share. Goldman, Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as joint book-running managers of the offering and Wells Fargo Securities, LLC and Robert W. Baird & Co. Incorporated acted as co-managers in the offering.
The offering was made pursuant to an effective shelf registration statement, including a prospectus and preliminary and final prospectus supplements relating to the offering, filed by Tower International, Inc. with the U.S. Securities and Exchange Commission ("SEC"). Investors should read the prospectus in that registration statement, the preliminary and final prospectus supplements and other documents that Tower International, Inc. has filed with the SEC for more complete information about Tower International, Inc. and the offering. Copies of the preliminary prospectus supplement, the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by visiting EDGAR on the SEC Website at www.sec.gov or by contacting Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email: firstname.lastname@example.org; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, 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 state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.
This press release contains statements which constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made as of the date of this press release and are based upon management's current expectations and beliefs concerning future developments and their potential effects on us. Such forward-looking statements are not guarantees of future performance. We do not assume any obligation to update or revise the forward-looking statements contained in this press release.
Executive Director, Investor & External Relations
SOURCE Tower International, Inc.
More by this Source
Tower International to Announce Fourth Quarter 2013 Financial Results
Feb 07, 2014, 16:30 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.