Cooper-Standard Holdings Inc. (NYSE: CPS) (“Cooper Standard” or the “Company”) today announced that certain selling stockholders affiliated with Silver Point Capital, L.P., Oak Hill Advisors, L.P. and Capital World Investors (the “selling stockholders”) have priced an underwritten secondary offering of 2,000,000 shares of common stock of Cooper Standard at a price per share to the public of $68.00. Of the 2,000,000 shares sold in this offering, Cooper Standard intends to repurchase 350,000 shares at a price per share of $68.00. The underwriters have a 30-day option to purchase up to 300,000 additional shares of common stock from the selling stockholders at the public offering price. The offering is expected to close on March 22, 2016, subject to customary closing conditions.
Cooper Standard is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares of common stock by the selling stockholders, including from any exercise by the underwriters of their option to purchase additional shares from the selling stockholders.
Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint book-running managers for the offering. KeyBanc Capital Markets, Sterne Agee CRT and The Buckingham Research Group Incorporated are acting as co-managers for the offering.
A registration statement (including a prospectus) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and has become effective. Before you invest, you should read the prospectus in that registration statement and other documents filed with the SEC for more complete information about Cooper Standard and this offering. You may obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov.
A preliminary prospectus supplement and the accompanying prospectus has been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, facsimile at (212) 902-9316, or e-mail at prospectus-ny@ny.email.gs.com or from BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038 or by email at dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.
