Platform Going to Public Markets to Raise $350M
WEST PALM BEACH, FL -- Platform Specialty Products today announced plans to raise $350 million from an offering of additional common stock.
Platform intends to use the proceeds for general corporate purposes, including alternative settlement of certain obligations relating to its shares of Series B convertible preferred stock.
The public offering of 42.4 million shares is priced at $8.25 per share. Gross proceeds from the offering are expected to be approximately $350 million, less underwriting discounts and commissions and offering expenses payable by Platform.
The chemicals company has granted underwriters a 30-day option to purchase an additional 6.36 million shares.
The offering is expected to close on or about Sept. 21, subject to customary closing conditions.
Platform is the parent company of MacDermid, Enthone and Alpha.
Press Releases
- OKI Develops Ultracompact Photonic Integrated Circuit Chip Using Silicon Photonics Technology to Realize Various Optical Sensors
- AIM to Highlight NC259FPA Ultrafine No Clean Solder Paste at SMTA Silicon Valley Expo & Tech Forum
- Occam Strengthens Leadership Team with Addition of PCB Expert Dana Korf
- ITW EAE Expands Partnership with Etek Europe to Represent Despatch Products in the UK and Ireland.