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Platform Specialty Products announces launch of public offering
Nov. 13, 2014
Platform Specialty Products Corporation
United StatesFollow
United StatesPlatform Specialty Products Corporation (Platform) has announced that it has commenced a $350 million underwritten public offering of shares of its common stock. In connection with the offering, Platform intends to grant the underwriters a 30-day option to purchase additional shares of its common stock to cover over-allotments, if any. All of the shares of common stock to be sold in the offering are to be sold by Platform.
Platform intends to use the net proceeds from the offering to fund a portion of the acquisition consideration and related fees and expenses of the previously-announced acquisition by Platform of Arysta LifeScience Limited, with any remaining net proceeds for general corporate purposes. The closing of the offering is not conditioned on, and is expected to be consummated before, the closing of the Arysta acquisition. In the event the Arysta acquisition is not completed, Platform intends to use the net proceeds of this offering for working capital and other general corporate purposes, which may include the funding of other acquisitions.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering.
Source: PSP
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