PSP announces pricing of $420 million public offering of common stock

Date:06-25-2015

Platform Specialty Products Corporation  ("Platform") recently announced the pricing of an underwritten public offering of 15,849,056 shares of its common stock at a public offering price of $26.50 per share. The gross proceeds to Platform from this offering are expected to be approximately $420 million, before deducting underwriting discounts and commissions and offering expenses payable by Platform. Platform has granted to the underwriters a 30-day option to purchase an additional 2,377,358 shares of its common stock. All of the shares of common stock to be sold in the offering are to be sold by Platform. The offering is expected to close on or about June 29, 2015, subject to customary closing conditions.

Platform intends to use the net proceeds from the offering to fund working capital and future acquisitions including, if consummated, a portion of the consideration and related fees payable in connection with the previously-announced acquisition by Platform of the Electronic Chemicals and Photomasks businesses of OM Group, Inc. (the "OMG Acquisition"). If completed, the OMG Acquisition is expected to close in two parts, with the first closing expected to occur during the third quarter of 2015 and the second closing expected to occur during first quarter of 2016, in each case, subject to customary closing conditions. The closing of this offering is not conditioned on, and is expected to be consummated before, the closing of the OMG Acquisition.