DELAND, Fla., April 2, 2015 /PRNewswire/ -- ARC Group
Worldwide, Inc. ("ARC") (NASDAQ: ARCW) today announced the pricing
of its public offering of 3,000,000 shares of common stock at a
price to the public of $5.00 per
share. The gross proceeds to ARC from this offering are
expected to be $15 million, before
deducting the underwriting discount and other estimated offering
expenses payable by ARC. The offering is expected to close on
or about April 8, 2015, subject to
customary closing conditions.
Brean Capital, LLC and Imperial Capital, LLC are acting as joint
book-running managers in the offering.
The underwriters have been granted a 30-day option to purchase
up to an additional 450,000 shares of common stock from ARC to
cover over-allotments, if any. The closing of the offering is
expected to occur on April 8, 2015.
The shares of ARC common stock issued pursuant to the offering will
trade on NASDAQ under the symbol "ARCW" together with issued and
trading shares of ARC common stock.
ARC plans to use all of the net proceeds from the offering to
voluntarily prepay a portion of the outstanding indebtedness under
ARC's senior credit facility and subordinated credit facility loans
which were used to finance the acquisitions of ATC, Thixoforming,
Kecy, and Munson by ARC.
The securities described above are being offered by ARC pursuant
to a registration statement previously filed with
the Securities and Exchange Commission (the "SEC"), which
became effective on April 1, 2015. A final prospectus
supplement related to the offering will be filed with
the SEC and will be available on the SEC's website
located at http://www.sec.gov. Copies of the
final prospectus supplement and the accompanying prospectus
relating to these securities may be obtained, when available,
from Brean Capital, LLC, 1345 Avenue of the Americas, 29th
Floor, New York, NY 10105,
attention: Matt Picciano, phone:
(212) 702-6536 / fax: (212) 702-6649, or by e-mail:
Syndicate@breancapital.com; or Imperial Capital, LLC, 277 Park
Avenue, 48th Floor, New York, NY
10172, attention: Steve Dearing
phone: (212) 351-9433 / fax: (212) 351-9718.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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
the registration or qualification under the securities laws of any
such state or other jurisdiction.
About ARC Group Worldwide, Inc.
ARC Group Worldwide, Inc. is a leading global advanced
manufacturing and 3D printing service provider. With its business
founded in 1987, the Company offers its customers a compelling
portfolio of advanced manufacturing technologies and cutting-edge
capabilities to improve the efficiency of traditional manufacturing
processes and accelerate their time to market. In addition to being
a world leader in metal injection molding ("MIM"), ARC has
significant expertise in 3D printing and imaging, materials
science, advanced tooling, automation, machining, stamping, plastic
injection molding, lean manufacturing, and robotics. For more
information visit the website of ARC Group Worldwide, Inc.
Forward-Looking Statements
The forward-looking statements contained in this press release
are based on ARC management's current expectations, estimates and
projections about future events. These include, but are not limited
to, statements, if any, regarding business plans, pro-forma
statements and financial projections, ARC's ability to expand its
services and realize growth. All such "forward-looking
statements" are made within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and are subject to
risks and uncertainties. These statements are not historical
facts or guarantees of future performance, events or results. Such
statements involve potential risks and uncertainties, and the
general effects of financial, economic, and regulatory conditions
affecting our industries. Accordingly, actual results may differ
materially. In particular, estimates regarding our
anticipated quarterly performance are based upon currently
available information; however, unpredictable events may arise
before the closing of each quarterly financial period that could
negatively affect actual quarterly performance outcomes.
These events may include orders that are withdrawn, delayed or
returned, unexpected costs, change in currency exchange rates,
and/or quality, workforce, and inventory issues. ARC does not
have any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. For additional factors that may affect
future results, please see filings made by ARC with the Securities
and Exchange Commission ("SEC"), including its Form 10-K for the
fiscal year ended June 30, 2014, Form
10-Q for the period ended September 28,
2014, and Form 10-Q for the period ended December 28, 2014 as well as our current reports
on Form 8-K filed from time-to-time with the SEC.
CONTACT: Drew M.
Kelley
PHONE: (303) 467-5236
Email: InvestorRelations@ArcGroupWorldwide.com
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SOURCE ARC Group Worldwide, Inc.