HAUPPAUGE, N.Y., March 21, 2013 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), today announced that it has filed a universal Shelf Registration Statement on Form S-3 and Form S-4 with the U.S. Securities and Exchange Commission (the "SEC").
The Shelf Registration Statement, when declared effective by the SEC, will give the Company the ability to offer and sell up to $200,000,000 of its securities, consisting of common stock, preferred stock, depository shares, warrants, subscription rights, and debt securities. After the shelf registration becomes effective, the Company may offer and sell such securities from time to time and through one or more methods of distribution, subject to market conditions and the Company's capital needs. The Shelf Registration Statement is intended to provide the Company with flexibility to access the public capital markets in order to respond to financing and business opportunities in the future but does not obligate the Company to do so.
Although the Shelf Registration Statement relating to these securities has been filed with the SEC, it has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Additionally, this press 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
If and when the Shelf Registration Statement is declared effective by the SEC, the Company may, from time to time, issue up to an aggregate of $200 million of equity, debt or other types of securities through one or more methods of distribution, in connection with business combination transactions, including acquisitions of other businesses, assets, properties or securities. VOXX International Corporation does not expect to receive cash proceeds from the sale of securities issued pursuant to the Form S-4. The terms of any offering under the Shelf Registration Statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.
A copy of the prospectus included in the registration statement may be obtained on the SEC's website at www.sec.gov. In addition, the Company would file a prospectus supplement with the SEC in connection with any offering under the shelf registration statement. The information on the Company's web site is not a part of the registration statement, the prospectus or any prospectus supplement which may be issued under the registration statement.
About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) is the new name for Audiovox Corporation, a company that was formed over 45 years ago as Audiovox that has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Through its wholly owned subsidiaries, VOXX International proudly is recognized as the #1 premium loudspeaker company in the world, and has #1 market positions in automotive video entertainment and remote starts, digital TV tuners and digital antennas. The Company's brands also hold #1 market share for TV remote controls and reception products and leading market positions across a wide-spectrum of other consumer and automotive segments.
Today, VOXX International is a global company....with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers. The company has an international footprint in Europe, Asia, Mexico and South America, and a growing portfolio, which is now comprised of over 30 trusted brands. Among the key domestic brands include Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, CarLink®, Excalibur® and Prestige®. International brands include Hirschmann Car Communication®, Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™. The Company continues to drive innovation throughout all of its subsidiaries, and maintains its commitment to exceeding the needs of the consumers it serves. For additional information, please visit our Web site at www.voxxintl.com.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive, premium audio and consumer accessories businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations and concerns regarding the European debt crisis; restrictive debt covenants; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against VOXX International Corporation and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 29, 2012.
SOURCE VOXX International Corporation