CAMDEN, N.Y.--()--International Wire Group Holdings, Inc. (the "Company") (Pink Sheets: ITWG) announced today the final results of its traditional "Dutch auction" tender offer (the "Offer") to repurchase shares of its common stock with an aggregate purchase price of up to $60.0 million, which expired at 5:00 p.m., New York City time, on December 18, 2012.
Based on the final tabulation by Computershare Trust Company, N.A., the depositary for the Offer, the Company accepted for purchase a total of 3,672,300 shares that were properly tendered and not withdrawn, at per share prices (which varied among security holders) between $15.00 and $17.50. As described in the offer to purchase, shares will be purchased at the per shares prices at which they were tendered (including conditional tenders for which the condition is met), with the "odd lot" shares properly tendered at that price bought first. Shares of common stock tendered at $17.50 per share are subject to purchase on a pro-rata basis, subject to the priority discussed above. Such shares purchased on a pro-rata basis at $17.50 per share will be subject to a proration factor of approximately 17.5%. Except for conditional tenders where the condition was not satisfied, all common stock tendered at less than $17.50 will not be subject to proration.
The information agent for the Offer is D.F. King & Co., Inc. and the depositary is Computershare Trust Company, N.A. For questions and information, please call the information agent toll free at (800) 628-8536. Computershare Trust Company, N.A. will promptly issue payment for shares of the Company’s common stock validly tendered and accepted for payment and will return all other shares tendered.
Tender Offer Statement
This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell, any shares of the Company's common stock.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release may include certain "forward-looking" statements. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believes," "expects," "may," "will," "would," "should," "seeks," "pro forma," "anticipates," "intends," "plans," "estimates," or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Many other important factors could cause our results to differ materially from those expressed in these forward looking statements. These factors include, but are not limited to, general market conditions, national or global events affecting the capital markets, unforeseen developments in our business or industry or changes in law or regulations governing our ability to complete the Offer.
About International Wire Group Holdings, Inc.
International Wire Group Holdings, Inc., through its wholly owned subsidiary International Wire Group, Inc., is a leading manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, engineered wire products and high performance conductors, for other wire suppliers, distributors and original equipment manufacturers. Our products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics, which enables us to offer customers a primary source for many of their wire and cable product requirements. Our products are utilized by a wide variety of customers, that then sell to a diverse array of end users across a wide range of end markets, primarily in the aerospace and defense, automotive/specialty vehicles, consumer and appliance, electronics and data communications, industrial/energy, medical electronics and medical device industries. We manufacture and distribute our products at 20 facilities located in the United States, Belgium, France, Italy and Poland.