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U.S. Concrete Announces Occurrence Of Conversion Event For Its 9.5% Convertible Secured Notes Due 2015

Stocks in this article: USCR

EULESS, Texas, June 18, 2013 (GLOBE NEWSWIRE) -- U.S. Concrete, Inc. (Nasdaq:USCR) today reported that, on June 17, 2013, the Last Reported Sale Price of the Common Stock for at least 20 Trading Days in a period of 30 consecutive Trading Days exceeded 150% of the Conversion Price, which constitutes the Conversion Event pursuant to the Indenture, dated as of August 31, 2010, as supplemented (the "Indenture"), among U.S. Concrete, the guarantors from time to time party thereto and U.S. Bank National Association, as Trustee, relating to U.S. Concrete's 9.5% Convertible Secured Notes due 2015 (the "Notes") (all terms used but not defined herein shall have the meanings ascribed to them in the Indenture). The Conversion Rate applicable to the Notes is 95.23809524 shares of Common Stock per $1,000 principal amount of Notes.

The right to convert Notes will terminate immediately prior to 9:00 a.m. New York City time on August 3, 2013, the date that is 46 days following the date of this release (the "Conversion Termination Date"). Holders may convert Notes up to the Conversion Cap at any time prior to the Close of Business on August 2, 2013, the Business Day immediately preceding the Conversion Termination Date. Any Holders who cannot convert the full amount of their Notes prior to the Conversion Termination Date due to the Conversion Cap may send an Election Notice to the Issuer in the form attached to the Indenture and may elect to convert such Notes on any date or dates prior to the date that is 180 days following the Conversion Termination Date. Except as otherwise provided in an Election Notice, any Notes not otherwise converted prior to the Conversion Termination Date may be redeemed at the Issuer's option at any time in accordance with Article Four of the Indenture at a Redemption Price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the Conversion Termination Date, in respect of the Notes to be redeemed.

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