Edgen Group Inc. ("Edgen") (NYSE: EDG) announced today that it has commenced an initial public offering of 15,000,000 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. This is a primary offering of Class A common stock by Edgen. Jefferies & Company, Inc., Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are serving as joint book-running managers for the offering. The underwriters will be granted an option to purchase from Edgen up to an additional 2,250,000 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. Edgen has been authorized to list its Class A common stock on the New York Stock Exchange under the symbol "EDG."
Edgen intends to use the net proceeds from the offering to repay certain indebtedness of its consolidated subsidiaries. Edgen expects to use any remaining net proceeds for general corporate purposes.
The offering of Class A common stock will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to this offering may be obtained from Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, (877) 547-6340 or by email to prospectus_department@jefferies.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, (866) 718-1649, or by email at prospectus@morganstanley.com; and Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, (800) 831-9146, or by email at batprospectusdept@citi.com.
The registration statement relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, such securities, nor shall there be any sales of these securities 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 any such state or jurisdiction.
Edgen is a leading global distributor of specialty products to the energy sector, including steel pipe, valves, quenched and tempered and high yield heavy plate, and related components. Edgen is headquartered in Baton Rouge, Louisiana.
Contacts:
Edgen Group Inc.
Erika Fortenberry, 225-756-9868
Director of
Investor Relations
