Global Brass And Copper Holdings, Inc. Announces Increased Size Of Secondary Public Offering Of Common Stock By Selling Shareholder
Global Brass and Copper Holdings, Inc. (the “Company”) (NYSE: BRSS)
today announced an increase in size of the previously announced
underwritten public offering to 6,400,000 shares of its common stock by
Global Brass and Copper Holdings, Inc. (the “Company”) (NYSE: BRSS) today announced an increase in size of the previously announced underwritten public offering to 6,400,000 shares of its common stock by Halkos Holdings, LLC, an affiliate of KPS Capital Partners, LP. The underwriter has a 30-day option to purchase up to an additional 910,000 shares of common stock. The shares of common stock were offered in one or more transactions in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices. The offering is expected to close on January 28, 2014, subject to satisfaction of customary closing conditions. The Company will not receive any proceeds from the offering. The total number of shares of the Company’s common stock outstanding will not change as a result of the offering. Morgan Stanley & Co. LLC is acting as the sole underwriter for the offering. A registration statement relating to these securities has been filed and declared effective with the U.S. Securities and Exchange Commission (“SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of common stock 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. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from the office of the underwriter: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014. About Global Brass and Copper Holdings, Inc. The Company is a leading, value-added converter, fabricator, distributor and processor of specialized copper and brass products in North America. It engages in metal melting and casting, rolling, drawing, extruding and stamping to fabricate finished and semi-finished alloy products from processed scrap, copper cathode and other refined metals. The Company’s products include a wide range of sheet, strip, foil, rod, tube and fabricated metal component products that are sold under the Olin Brass, Chase Brass and A.J. Oster brand names. The Company’s products are used in a variety of applications across diversified end markets, including the building and housing, munitions, automotive, transportation, coinage, electronics/electrical components, industrial machinery and equipment and general consumer end markets. It accesses these end markets through direct mill sales, its captive distribution network and third-party distributors.
A look at the weighted underlying holdings of the First Trust RBA American Industrial Renaissance ETF (AIRR) shows an impressive 11.2% of holdings on a weighted basis have experienced insider buying within the past six months. START SLIDESHOW:10 ETFs With Stocks That Insiders Are Buying » Global Brass & Copper Holdings Inc , which makes up 2.10% of the First Trust RBA American Industrial Renaissance ETF (AIRR), has seen 5 directors and officers purchase shares in the past six months, according to the recent Form 4 data.