This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U.S. Concrete Announces Commencement Of Exchange Offer For All 9.5% Convertible Secured Notes Due 2015

EULESS, Texas, Feb. 6, 2013 (GLOBE NEWSWIRE) -- U.S. Concrete, Inc. (Nasdaq:USCR) announced today that it has commenced an offer to exchange up to $69,300,000 aggregate principal amount of newly issued 9.5% Senior Secured Notes due 2015 ("New Notes") for all of the Company's outstanding 9.5% Convertible Secured Notes due 2015 (CUSIP Nos. 90333LAE2 and 90333LAF9) (the "Convertible Notes"). The exchange offer and related consent solicitation (the "Exchange Offer") is being made upon the terms and subject to the conditions set forth in the company's Preliminary Prospectus, dated February 6, 2013 (the "Prospectus"), and the related Letter of Transmittal & Consent (the "Letter of Transmittal"). The Exchange Offer will expire at 5:00 pm, New York City time, on Friday, March 15, 2013, unless it is extended or earlier terminated by the company (as may be extended by the company, the "Expiration Date"). As of the date hereof, there is $55,000,000 aggregate principal amount of Convertible Notes outstanding, which are currently convertible at a conversion rate of 95.23809524 shares of the Company's common stock per $1,000 principal amount of Convertible Notes, or a conversion price of approximately $10.50 per share.

Upon the terms and subject to the conditions of the Exchange Offer, holders of Convertible Notes who validly tender and do not properly withdraw their Convertible Notes prior to 5:00 pm, New York City time, on the Expiration Date, will receive, for each $1,000 principal amount of Convertible Notes accepted for exchange, $1,260 principal amount of New Notes. The Convertible Notes may only be delivered in amounts equal to minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. However, the New Notes will be issued in denominations of $1.00 and integral multiples of $1.00 in excess thereof.

The terms and conditions of the Exchange Offer appear in the Prospectus and the Letter of Transmittal, both of which will be distributed to all holders of the Convertible Notes. The Exchange Offer is subject to minimum tender conditions and certain other conditions as more fully described in the Prospectus, including the receipt of sufficient consents to amend the terms of the indenture governing the Convertible Notes, the security documents governing the Convertible Notes and the related intercreditor agreement, in order to eliminate substantially all of the restrictive covenants contained in the indenture governing the Convertible Notes and provide for a release of all of the collateral securing the Convertible Notes. The Company expressly reserves the right to waive these conditions in whole or in part at any or at various times.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs