DALLAS, Oct. 18, 2011 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG) today announced today that it has filed a registration statement with the Securities and Exchange Commission (the "SEC"). When declared effective by the SEC, this registration statement will allow the Company to sell, from time to time, up to $120 million of the Company's equity securities in one or more offerings. The proposed registration statement is intended to give the Company greater flexibility to raise funds from the offering of its equity securities, subject to market conditions and the Company's capital needs. The terms of any offering under the registration statement will be established at the time of the offering.
The proceeds from the sales of securities by the Company will be used for the purposes described in a prospectus supplement filed at the time of any offering. Under the terms of our existing credit agreement, all or part of the net proceeds from any offering may be required to be used to repay indebtedness under the credit agreement.
The registration statement has not been declared effective by the SEC. Any securities offered by the Company under the registration statement may not be sold, nor may offers to buy the securities be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall 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 a prospectus and a related prospectus supplement.
About PMFG
The Company is a leading provider of custom engineered systems and products designed to help ensure that the delivery of energy is safe, efficient and clean. The Company primarily serves the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, the Company markets its systems and products worldwide under the brand names of Peerless Mfg. Co., Burgess-Manning, Bos-Hatten and Alco Products.
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 "anticipate," "preliminary," "intend," "may," "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. There is no assurance that the Company will seek to sell equity securities in the future, and if so, at what price those securities may be sold. The risks and uncertainties that may affect the Company's results include the growth rate of the Company's revenue and market share; the receipt of new, and the non-termination of existing, contracts; the Company's ability to effectively manage its business functions while growing its business in a rapidly changing environment; the Company's ability to adapt and expand its services in such an environment; the quality of the Company's plans and strategies; risks associated with the Company's significant indebtedness; and the Company's ability to execute such plans and strategies. Other important information regarding factors that may affect the Company's future performance is included in the public reports that the Company files with the Securities and Exchange Commission, including the information under Item 1A. "Risk Factors" in our Annual Report on Form
10-K for the fiscal year ended July 2, 2011. 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, including the status of specific orders or contracts, 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.