Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced that it has commenced an underwritten public offering of 5 million shares of common stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock of the Company.
The Company intends to use all of the net proceeds of the offering to pay down outstanding indebtedness.
The offering is being made through an underwriting group led by Baird, who is acting as joint book-running manager and as representative of the underwriters, and KeyBanc Capital Markets, who is acting as joint book-running manager for the common stock offering. Seaport Global Securities and Craig-Hallum Capital Group are acting as co-managers for the offering.
The offering is being made by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained free by visiting EDGAR on the Securities and Exchange Commission (SEC) website at www.sec.gov . The prospectus supplement and base prospectus may also be obtained by sending a request to: Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, Attention: Syndicate Department.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on June 9, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s common stock or any other securities, and there shall not be any offer, solicitation or 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 such any state or jurisdiction.
