CLEVELAND, Apr 1, 2004 (BUSINESS WIRE) -- Brush Engineered Materials Inc. (NYSE:BW) today announced that it has filed a registration statement with the Securities and Exchange Commission for the Company to offer and sell up to 1,700,000 shares of common stock, as well as to resell for the account of selling shareholders 115,000 shares of common stock to be issued upon the exercise of warrants issued in connection with the Company's December 2003 debt refinancing. The underwriters will have an option to purchase up to an additional 272,250 shares of common stock from the Company solely to cover over-allotments, if any. The Company anticipates completing the offering during the second quarter.
The net proceeds from this offering will be used to repay a portion of the amounts outstanding under the credit facilities that are part of the Company's December 2003 refinancing. Any remaining net proceeds will be used for working capital and general corporate purposes, including capital expenditures, acquisitions of businesses or assets and investments.
KeyBanc Capital Markets is acting as the book-running manager for the offering. When available, a copy of the prospectus may be obtained from KeyBanc Capital Markets, attention Syndicate Department, 800 Superior Ave., Cleveland, Ohio, 44114, (216) 443-2370 or by fax (216) 443-3901.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but 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. 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 state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Brush Engineered Materials Inc. is headquartered in Cleveland. The Company, through its wholly owned subsidiaries, supplies worldwide markets with beryllium products, alloy products, electronic products, precious metal products and engineered material systems.
SOURCE: Brush Engineered Materials Inc.
Brush Engineered Materials Inc.
Investors: Michael C. Hasychak, 216-383-6823
Media: Patrick S. Carpenter, 216-383-6835
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