DALLAS, Feb. 7, 2012 (GLOBE NEWSWIRE) -- PMFG, Inc. (Nasdaq:PMFG) today announced a follow-on public offering of 2,600,000 shares of its common stock. All shares will be offered by the Company. The Company intends to use the net proceeds from the offering to repay all of its outstanding borrowings under its senior term loan and for general corporate purposes, including international expansion and strategic acquisitions.
Stifel, Nicolaus Weisel and William Blair & Company are acting as joint book-running managers for the offering. JMP Securities and Needham & Company are acting as co-managers for the offering. The underwriters will have an option to purchase up to an additional 390,000 shares of common stock from the Company.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The common stock will be offered pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission. A preliminary prospectus supplement related to the offering also has been filed with the Securities and Exchange Commission and is available on the SEC's website at www.sec.gov. Copies of the prospectus supplement relating to the offering may be obtained from Stifel Nicolaus Weisel, One South Street, 15th Floor, Baltimore, MD 21202, Attention: Equity Syndicate Department, by telephone at 443-224-1988 or by email at SyndicateOps@stifel.com or William Blair & Company, 222 West Adams Street, Chicago, IL 60606, Attention: Business Information Center, by telephone at 1-800-621-0687 or by email at prospectus@williamblair.com.
This press release will not constitute an offer to sell nor the solicitation of an offer to buy, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering may be made only by means of prospectus and a related prospectus supplement.
About PMFG
We are a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. We primarily serve the markets for natural gas infrastructure, power generation and refining and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide.
The PMFG, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5676
Safe Harbor Under The Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. The words "intend," "will" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for these forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results to differ materially from the anticipated results expressed in these forward-looking statements. The risks and uncertainties include conditions in the equity markets. Other important information regarding factors that may affect this offering and the Company's future performance is included under "Risk Factors" in the preliminary prospectus supplement filed with the Securities and Exchange Commission on February 6, 2012. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of other events, except to the extent required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.