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GrafTech announces pricing of secondary offering and share buyback

Published 08/09/2018, 03:40 AM
© Reuters.  GrafTech announces pricing of secondary offering and share buyback
EAF
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  • GrafTech (NYSE:EAF) priced upsized common stock offering of 23M shares at $20/share.
  • The shares have been offered by the majority stockholder, an affiliate of Brookfield Business Partners LP.
  • The offering is expected to close on August 13, 2018, subject to customary closing conditions.
  • The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 3.45M common shares.
  • The company has entered into a share repurchase agreement with the selling stockholder to repurchase 11,688,311 shares at the price paid by the underwriters in the offering, net of underwriting commissions and discounts.
  • The Company expects to fund the share repurchase from cash on hand.
  • Shares -2.58%.
  • Press Release
  • Now read: Sun Hydraulics Corporation 2018 Q2 - Results - Earnings Call Slides


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