Edgen Group Inc. (“Edgen”) (NYSE: EDG) today announced that it completed its initial public offering of Class A common stock at a price to the public of $11.00 per share. Edgen sold 15,000,000 shares in the offering, and the underwriters have an option until May 26, 2012 to purchase up to 2,250,000 additional shares of Class A common stock from Edgen. Edgen’s stock began trading on the New York Stock Exchange on April 27, 2012 under the Symbol “EDG.”
Total net proceeds to Edgen from the offering, after deducting underwriter discounts and commissions and estimated offering expenses, are approximately $150.4 million. Edgen intends to use the net proceeds from the offering to repay certain indebtedness of its consolidated subsidiaries. Edgen expects to use any remaining net proceeds for general corporate purposes.
Jefferies & Company, Inc., Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. served as joint book-running managers and Stephens Inc., Tudor Pickering Holt & Co. Securities, Inc., BB&T Capital Markets and HSBC Securities (USA) Inc. served as co-managers for this offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. The offering of these securities was made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, (877) 547-6340 or by email to firstname.lastname@example.org; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, (866) 718-1649, or by email at email@example.com; and Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, (800) 831-9146, or by email at firstname.lastname@example.org.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV