Cubic Announces Pricing of Secondary Public Offering by Selling Shareholders
May 16 2013 - 9:00AM
Business Wire
Cubic Corporation (NYSE: CUB) announced today the pricing of a
previously announced secondary underwritten public offering of
2,315,000 shares of its common stock at a price to the public of
$45.75 per share. All of such shares were offered by certain
shareholders of Cubic, which shareholders are comprised of trusts
created by Cubic’s founder, Walter J. Zable, who passed away in
2012, and the selling shareholders will receive all of the net
proceeds from the offering. The selling shareholders have granted
the underwriters an option for 30 days to purchase up to 347,250
additional shares. The offering is expected to close on May 21,
2013, subject to the satisfaction of customary closing
conditions.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA)
LLC are acting as joint book-running managers of the offering.
Raymond James & Associates, Inc., BB&T Capital Markets, a
division of BB&T Securities, LLC, Canaccord Genuity Inc.,
Needham & Company, LLC, RBC Capital Markets, LLC, Imperial
Capital, LLC and The Benchmark Company, LLC are acting as
co-managers of the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (SEC)
on May 15, 2013. The offering is being made by the selling
shareholders only by means of a prospectus, copies of which may be
obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717
(telephone: 866-803-9204) or Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, One Madison Avenue, New York, New
York 10010 (telephone: 800-221-1037).
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any offer or
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 such state or
jurisdiction.
This press release contains forward-looking statements, which
are made pursuant to the safe harbor provisions of the Securities
Litigation Reform Act of 1995, that involve risks and
uncertainties, including statements related to the closing of the
secondary public offering. These forward-looking statements are
based upon Cubic’s current expectations. Actual results or outcomes
may differ materially from those expressed in any forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation, risks and uncertainties associated
with market conditions and the satisfaction of customary closing
conditions related to the offering, and other risks detailed in
Cubic’s filings with the SEC, and investors should not place undue
reliance on any forward-looking statements. In addition, any
forward-looking statement speaks only as of the date on which it is
made, and Cubic undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events, except as required by law.
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