Horsehead Holding Corp. ("Horsehead") (Nasdaq: ZINC) announced today that it currently intends, subject to market and other conditions, to offer senior secured notes (the “Notes”) in a private offering. The Notes, if offered, will be offered only to “qualified institutional buyers” in accordance with Rule 144A and to non-U.S. persons under Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). Horsehead continues to explore and pursue other private financing alternatives, and may at any time elect to no longer pursue a possible Notes offering. The Company intends to use the net proceeds of the Notes offering or any alternative private financing to fund construction of its Rutherford, North Carolina plant. The Notes will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About Horsehead Horsehead Holding Corp. ("Horsehead") (Nasdaq: ZINC) is the parent company of Horsehead Corporation, a leading U.S. producer of specialty zinc and zinc-based products and a leading recycler of electric arc furnace dust; The International Metals Reclamation Company ("INMETCO"), a leading recycler of metals-bearing wastes and a leading processor of nickel-cadmium (NiCd) batteries in North America; and Zochem Inc., a zinc oxide producer located in Brampton, Ontario. Horsehead, headquartered in Pittsburgh, Pa., employs approximately 1,150 people and has eight facilities throughout the U.S. and Canada.
Cautionary Statement about Forward-Looking StatementsThis press release contains forward-looking statements regarding a proposed private offering. These statements are based on assumptions, estimates and information available to us at the time of this press release and are not guarantees of future outcomes. There may be several factors that may cause actual outcomes to differ materially from the forward-looking statements, including, among others, whether or not we will ultimately offer the Notes or consummate the offering, and if we do, the terms of the Notes and the timing and uses of the offering. Our outcomes could differ materially from those expressed in, or implied by, the forward-looking statements. We can give no assurances that any of the outcomes anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on our results of operations and financial condition. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update this earnings release to reflect events or circumstances after the date hereof.