Noranda Aluminum Holding Corporation Announces Secondary Offering of Common Stock by Apollo
FRANKLIN, Tenn.--(BUSINESS WIRE)-- Noranda Aluminum Holding Corporation (NOR) (Noranda), a leading North American integrated producer of value-added primary aluminum products, announced today a public secondary offering of 10 million shares of common stock (the Shares) by certain investment funds affiliated with or managed by Apollo Management VI, L.P. (Apollo), pursuant to an underwriting agreement among the Company, Apollo and UBS Investment Bank, as underwriter, providing for the sale of the Shares. Apollo has granted to UBS Investment Bank an option to purchase up to 1.5 million additional shares of common stock. Noranda will not receive any of the proceeds from the sale of Shares by Apollo.
The offering will be made pursuant to Norandas registration statement on Form S-3 (File No. 333-172640) filed with the Securities and Exchange Commission on March 7, 2011, and related preliminary prospectus supplement (Prospectus Supplement) filed today. UBS Investment Bank may offer the shares of common stock on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
As a result of the offering, Apollo will own less than 50% of the total voting power of Norandas common stock and Noranda will no longer be a controlled company under the NYSE corporate governance listing standards.
The terms of this offering are described in the Prospectus Supplement. Copies of the Prospectus Supplement and accompanying base prospectus may be obtained from UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attn: Prospectus Department, or by calling UBS Investment Bank at (888) 827-7275.
This press release is for informational purposes only. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, the Companys common stock or any other securities, nor shall there be any sale of securities mentioned in this press release 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.
About the Company
Noranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause the Companys actual results to differ materially from those expressed in forward-looking statements, including.
Forward-looking statements contain words such as believes, expects, may, should, pursue, seeks, approximately, anticipates, intends, plans, estimates, or anticipates or similar expressions that relate to Norandas strategy, plans or intentions. All statements Noranda makes relating to its future plans or to Norandas expectations regarding future industry trends are forward-looking statements. Noranda undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect managements current estimates, projections, expectations or beliefs.
For a discussion of additional risks and uncertainties that may affect the future results of Noranda, please see the Companys filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Noranda Aluminum Holding Corporation
Robert Mahoney, Chief Financial Officer, 615-771-5752
Source: Noranda Aluminum Holding CorporationCopyright Business Wire 2012