Noranda Aluminum Holding Corporation (NYSE: NOR) (“Noranda” or the “Company”), a leading North American integrated producer of value-added primary aluminum products, announced today the pricing of a public secondary offering of 10 million shares of its outstanding common stock by certain investment funds affiliated with or managed by Apollo Management VI, L.P. (“Apollo”). Apollo has also granted the underwriter an option to purchase up to 1.5 million additional shares of common stock.
Noranda will not receive any of the proceeds from the sale of shares of common stock by Apollo in the offering. The offering is scheduled to close on or about March 19, 2012.
UBS Investment Bank is the sole underwriter of the offering.
As a result of the offering, Apollo will own less than 50% of the total voting power of Noranda’s common stock and Noranda will no longer be a “controlled company” under the NYSE corporate governance listing standards.The offering is being made pursuant to a prospectus supplement to the Company’s existing shelf registration statement. Copies of the prospectus supplement and accompanying base prospectus may be obtained from UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attn: Prospectus Department, or by calling UBS Investment Bank at (888) 827-7275. This press release is for informational purposes only. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, Noranda’s common stock or any other securities, nor shall there be any sale of securities mentioned in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Noranda Noranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV