DALIAN, China, Jan. 19 /PRNewswire-Asia-FirstCall/ -- Fushi Copperweld, Inc. (the "Company") (NasdaqGS: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced the commencement of an underwritten public follow-on offering of 5,000,000 shares of its common stock pursuant to its shelf registration statement. In connection with this offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering to repay indebtedness and for working capital and other general corporate purposes, which may include, among other things, the expansion of existing capacity and potential acquisitions.
Jefferies & Company, Inc. is acting as sole book-running manager for the offering. Roth Capital Partners, LLC will serve as co-lead manager. Rodman & Renshaw, LLC will serve as co-manager.
The shares will be issued pursuant to a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission, or SEC. The Company has also filed with the SEC a preliminary prospectus supplement with respect to the offering. Copies of the preliminary prospectus may be obtained by contacting:
Jefferies & Company, Inc. Equity Syndicate Middle Office 520 Madison Avenue, 12th Floor New York, NY 10022 (212) 284-3418
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of 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.
About Fushi Copperweld, Inc.
Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co., Ltd., and Copperweld Bimetallics, LLC, is the leading manufacturer and innovator of copper-cladded bimetallic engineered conductor products used in the electrical, telecommunications, transportation, utilities and industrial industries. With extensive design and production capabilities and a long-standing dedication to customer service, Fushi Copperweld, Inc. is the preferred choice bimetallic products world-wide. For more information, visit: http://www.fushicopperweld.com .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will" "believes", "expects" or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .
For more information, please contact: Nathan J. Anderson Vice President of Investor Relations Fushi Copperweld, Inc. Email: IR@fushicopperweld.com Tel: +1-931-433-0482
SOURCE Fushi Copperweld, Inc.