Keystone Automotive Announces Extension of Rights Offering

Mar 14, 2011, 09:00 ET from Keystone Automotive Operations, Inc.

EXETER, Pa., March 14, 2011 /PRNewswire/ -- Keystone Automotive Operations, Inc. ("Keystone" or the "Company") announced today the extension of its previously announced rights offering in an aggregate amount of up to $60 million (the "Rights Offering") that is being conducted in connection with its previously announced financial restructuring (the "Restructuring") and exchange offer and consent solicitation (the "Offer") with respect to its 9 3/4% Senior Subordinated Notes due 2013 (the "Senior Subordinated Notes").  The expiration date of the Rights Offering will now be 5:00 p.m., New York City time on March 16, 2011 (the "Expiration Date), and will now coincide with the expiration of the Offer, unless further extended or earlier terminated.  

This press release is neither an offer to sell nor the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.  This press release is also not a solicitation of consents to the proposed amendments to the indenture governing the Senior Subordinated Notes. Any questions or requests for additional copies of the procedures governing the Rights Offering or related documents may be directed to the subscription agent, The Garden City Group, Inc. at (888) 476-7159.

About Keystone Automotive

Keystone Automotive Operations, Inc. and its affiliates are wholesale distributors and retailers of aftermarket automotive accessories and equipment, with operations servicing customers in all regions of the United States and provinces of Canada, as well as various other international locations.  The Company's fleet of over 300 trucks provide multi-day per week delivery and returns covering the 48 contiguous states and nine provinces of Canada.  The Company sells and distributes specialty automotive products, such as light truck/SUV accessories, car accessories and trim items, specialty wheels, tires and suspension parts, and high performance products to a fragmented base of approximately 15,000 customers.  The Company's wholesale operations include an electronic service strategy providing customers the ability to view inventory and place orders via its proprietary electronic catalog.  The Company also operates 20 retail stores in Pennsylvania.  The Company's corporate headquarters is in Exeter, Pennsylvania.

Forward-Looking Statements

Statements in this release that are not purely historical facts, including, among other things, statements about the proposed recapitalization of the Company and the expected benefits thereof, or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  There is no assurance that the Company will enter into the New Term Loan or the New ABL Loan, consummate the proposed recapitalization or that the proposed recapitalization will have the anticipated benefits described herein.  Readers are cautioned not to place undue reliance on forward-looking statements.  All forward-looking statements are based upon information available to the Company on the date this release was submitted.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.

SOURCE Keystone Automotive Operations, Inc.