LIVONIA, Mich., Oct. 31, 2013 /PRNewswire/ -- Tower International, Inc. [NYSE: TOWR], a leading integrated global manufacturer of engineered structural metal components and assemblies, today announced the commencement of a public offering of 2,579,744 shares of its common stock by Tower International Holdings, LLC. Tower International Holdings, LLC is an affiliate of Cerberus Capital Management, L.P. and is the sole selling stockholder in the offering. Upon completion of the offering, Tower International Holdings, LLC will hold 2,000,000 shares of common stock of Tower International, Inc. Tower International, Inc. will not receive any proceeds from the offering of shares by Tower International Holdings, LLC.
Morgan Stanley is acting as the sole underwriter for the offering. Tower International Holdings, LLC will be subject to a customary 30-day lock-up arrangement with the underwriter and Tower International, Inc. will be subject to a customary 90-day lock-up arrangement with the underwriter.
A shelf registration statement (including a prospectus) relating to the offering of the common stock has previously been filed with the U.S. Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus and other documents filed with the Securities and Exchange Commission for information about Tower International, Inc. and the offering. A copy of the prospectus may be obtained from Morgan Stanley & Co. LLC,Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.Forward-Looking Statements: This press release contains statements which constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made as of the date of this press release and are based upon management's current expectations and beliefs concerning future developments and their potential effects on us. Such forward-looking statements are not guarantees of future performance. We do not assume any obligation to update or revise the forward-looking statements contained in this press release.