Heritage-Crystal Clean, Inc. Announces Public Offering Of Common Stock
ELGIN, Ill., May 18, 2010 (GLOBE NEWSWIRE) -- Heritage-Crystal Clean, Inc. (the "Company") (Nasdaq:HCCI) announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for an underwritten public offering on behalf of the Company of approximately 2.75 million shares of the Company's common stock. In connection with the offering, the Company expects to grant the underwriters an option for a period of 30 days to purchase up to an additional 412,500 shares of the Company's common stock. The offering price and number of shares will be determined by market conditions at the time of pricing, in consultation with the underwriters.
The Company intends to use the net proceeds from the offering to fund a portion of the construction costs for the used oil re-refinery that it expects to build in Indiana.
The lead underwriter for the offering is William Blair & Company, L.L.C. Robert W. Baird & Co. and Needham & Company, LLC are acting as co-managers. The offering will be made only by means of a prospectus. When available, a preliminary prospectus related to the offering may be obtained from the prospectus department of William Blair & Company, L.L.C. by written request to Prospectus Department, 222 West Adams Street, Chicago, Illinois 60606 or by telephone at (312) 364-8600 or Toll-free at (800) 621-0687.A registration statement relating to these securities has been filed with the SEC, 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 news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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 jurisdiction. This offering may be made only by means of a prospectus.
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