RYE, N.Y., Sept. 4, 2013 /PRNewswire/ -- Jarden Corporation ("Jarden" or the "Company") (NYSE: JAH) announced today the upsizing and pricing of the previously announced underwritten public offering of 11,600,000 shares of its common stock. The size of the offering has been upsized to 15,000,000 shares of its common stock and priced at $47.00 per share. The offering is expected to close on September 10, 2013. In connection with the offering, Jarden has granted an option to the underwriters for a period of 30 days to purchase a number of shares up to 15% of the upsized offering.
After deducting underwriting discounts and commissions and other estimated offering expenses, Jarden expects to receive net proceeds of $678.7 million, or $781.4 million if the underwriters exercise in full their option to purchase additional shares. Jarden expects to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the recently announced acquisition of Yankee Candle Investments LLC ("Yankee Candle"). The offering is not conditioned on the closing of the acquisition of Yankee Candle and the Company cannot assure you that such acquisition will be completed. If the acquisition of Yankee Candle is not completed, the Company intends to use the net proceeds from the offering for general corporate purposes.
Barclays Capital Inc. is acting as lead joint book-running manager, and Credit Suisse Securities ( USA) LLC, J.P. Morgan Securities LLC, and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be 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. An effective shelf registration statement relating to these securities has previously been filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus and related prospectus supplement.
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