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ATLANTA, June 12, 2019 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (“Chart”) (Nasdaq: GTLS) today announced the pricing of 3,500,000 shares of its common stock ("Common Stock") at a price of $73.50 per share in an underwritten registered public offering (the "Offering"). In addition, Chart has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of Common Stock from Chart.
Chart estimates that the net proceeds of the Offering will be approximately $248.8 million (or approximately $286.3 if the underwriters' option to purchase additional shares of Common Stock is exercised in full), after deducting the underwriters' discounts and commissions and estimated offering expenses. Chart currently intends to use the net proceeds of the Offering to fund a portion of the purchase price of Chart’s previously announced pending acquisition of Harsco Corporation’s Industrial Air-X-Changers business (the “Acquisition”), to repay indebtedness and to pay related fees and expenses. Completion of the Offering is not contingent upon consummation of the Acquisition or the terms of the Acquisition.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Common Stock, nor shall there be any sale of the Common Stock, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC will act as joint lead book-running managers for the Offering and Evercore ISI and Wells Fargo Securities, LLC will act as book-running managers for the Offering. Fifth Third Securities, Inc., PNC Capital Markets LLC, Citizens Capital Markets, HSBC Securities (USA) Inc., MUFG Securities Americas, Inc., Johnson Rice & Company L.L.C. and Lake Street Capital Markets, LLC will act as co-managers for the Offering. Chart has filed a registration statement (including a base prospectus and related preliminary prospectus supplement) with the Securities and Exchange Commission, or SEC, for the Offering. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus and the other documents Chart has filed with the SEC for more complete information about Chart and the Offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, Chart, the underwriters or any dealer participating in the Offering will arrange to send you the preliminary prospectus supplement and the accompanying prospectus if you request them by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone: 1-866-803-9204, or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, New York, 10010, telephone: 1-800-221-1037, or e-mail: email@example.com, or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. Our unique product portfolio is used throughout the liquid gas supply chain in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and Latin America.
This press release contains forward-looking statements regarding our planned offer and sale of Common Stock and the use of the net proceeds from any such sale. We cannot be sure that we will complete the Offering or the Acquisition or, if we do, on what terms we will complete such transactions. Forward-looking statements are based on current beliefs and expectations and are subject to inherent risks and uncertainties, including those discussed under the caption "Risk Factors" in the prospectus and prospectus supplement. The forward-looking statements speak only as of the date of this release, and Chart is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
Chief Executive Officer