HOUSTON, March 28, 2007 (PRIME NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq:HWCC) (the "Company") announced today that it increased its previously announced secondary offering of common stock from 5,500,000 shares to 6,500,000 shares. The price of the offering was set at $25.00 per share. In connection with the offering, certain selling stockholders granted the underwriters an option for a period of 30 days to purchase up to 975,000 additional shares of common stock to cover over-allotments.
The Company will not receive any of the proceeds from the sale of shares by the selling stockholders. A registration statement relating to the shares in this offering has been filed with the Securities and Exchange Commission.
William Blair & Company, L.L.C. is acting as sole book-running manager for the offering, Robert W. Baird & Co. Incorporated is the co-lead manager and BB&T Capital Markets is acting as co-manager.
The common stock offering may be made only by means of prospectus, copies of which may be obtained from the Company's Investor Relations page on its website at www.houwire.com or by contacting the following underwriters:
William Blair & Company, L.L.C.
Prospectus Department
222 West Adams
Chicago, IL 60606
Robert W. Baird & Co. Incorporated
Syndicate Department
777 East Wisconsin Avenue, 25th Fl.
Milwaukee, WI 53202
BB&T Capital Markets, Inc.
909 East Main Street
7th Floor
Richmond VA 23219
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares, nor shall there be any sale 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.
About the Company
With more than 30 years of experience in the electrical industry, Houston Wire & Cable Company is one of the largest distributors of specialty wire and cable and related services in the U.S. electrical distribution market. Headquartered in Houston, HWCC has sales and distribution facilities in Atlanta, Baton Rouge, Charlotte, Chicago, Denver, Houston, Los Angeles, Philadelphia, San Francisco, Seattle and Tampa.
Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables and private branded products, including LifeGuard(tm), a low-smoke, zero-halogen cable. HWCC's comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service.
To obtain additional information, visit our website at www.houwire.com.
The Houston Wire & Cable Company logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2807