Zep Inc. Announces Filing Of Universal Shelf Registration Statement To Replace Its Previous Shelf Registration Statement
Zep Inc. (NYSE: ZEP), a leading producer and marketer of a wide range of
cleaning and maintenance solutions, today announced that it has filed a
shelf registration statement on Form S-3 with the Securities and
Zep Inc. (NYSE: ZEP), a leading producer and marketer of a wide range of cleaning and maintenance solutions, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) to replace the previous shelf registration statement which was declared effective on January 22, 2010. Zep Inc. replaced the previous shelf registration because the SEC’s rules do not permit the use of a shelf registration statement more than three years after its effective date. When the shelf registration is declared effective by the SEC, the shelf registration statement will allow Zep to raise up to an aggregate of $300 million through the sale of equity, debt, and certain other types of securities described in the registration statement, through one or more future public offerings, from time to time in the future. Specific terms and share prices of any future offerings by Zep, under this registration statement will be established at the time of any such offering, and will be described in a prospectus supplement that Zep will file with the SEC. Pursuant to the shelf registration statement filed with the SEC, the net proceeds from the sale of any securities to be registered thereunder will be used for general corporate purposes, which may include funding capital expenditures, pursuing growth initiatives, whether through acquisitions, joint ventures or otherwise, repaying or refinancing indebtedness or other obligations, and financing working capital. A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any applicable prospectus supplement that may be issued with respect to such offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s web site at www.sec.gov. Forward Looking StatementsThis release contains, and other written or oral statements made by or on behalf of Zep may include, forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results, expectations, or outcomes to differ materially from our expectation.About Zep Inc. Zep Inc., with fiscal year 2012 net sales of $654 million, is a leading producer and marketer of a wide range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets. Zep Inc.'s product portfolio includes anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, and pest and weed control products, as well as high performance products and professional grade chemical products for the automotive, fleet maintenance, industrial/MRO supply, institutional supply and motorcycle markets. We market these products and services under well recognized and established brand names, such as Zep®, Zep Commercial®, Zep Professional®, Enforcer®, National Chemical™, Selig™, Misty®, Next Dimension™, Petro®, i-Chem®, TimeMist®, TimeWick™, MicrobeMax®, Country Vet®, Konk®, Blue Coral®, Black Magic®, Rain-X®, Niagara National™, Washtronics™, FC Forward Chemicals®, Rexodan®, Mykal™, and a number of private labeled brands. Founded in 1937, some of Zep's brands have been in existence since 1896. Zep Inc. is headquartered in Atlanta, Georgia. Visit our website at www.zepinc.com.
Looking at the universe of stocks we cover at Dividend Channel, on 1/14/15, Zep Inc will trade ex-dividend, for its quarterly dividend of $0.06, payable on 2/2/15. As a percentage of ZEP's recent stock price of $14.92, this dividend works out to approximately 0.40%.