ATLANTA, Nov. 15, 2016 /PRNewswire/ -- Veritiv
Corporation (NYSE: VRTV) today announced an underwritten public
offering of 1,568,000 shares of its common stock by UWW Holdings,
LLC, one of its existing stockholders and the former parent company
of Unisource Worldwide, Inc., subject to market conditions and
other factors. The selling stockholder expects to grant a
30-day option to the underwriters to purchase up to an additional
188,160 shares from the selling stockholder. The Company is
not selling any shares of common stock in the offering, and the
Company will not receive any proceeds from the offering by the
selling stockholder.
In addition, the Company announced that it intends to repurchase
313,600 of the 1,568,000 shares from the underwriters, concurrently
with the closing of the offering, at a price per share equal to the
price at which the underwriters will purchase such shares from the
selling stockholder. The closing of the share repurchase is
contingent on, and expected to occur simultaneously with, the
closing of the offering, subject to the satisfaction of other
customary conditions.
BofA Merrill Lynch, SunTrust Robinson Humphrey and Wells Fargo
Securities are acting as joint book-running managers of the
offering.
A registration statement (including prospectus) relating to
these securities was filed with and declared effective by the
Securities and Exchange Commission (the "SEC"). Information about
the offering is available in the preliminary prospectus supplement
filed by the Company with the SEC today. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to the offering may be obtained by contacting BofA Merrill
Lynch, attention: Prospectus Department, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte,
NC 28255-0001, telephone: 1-800-294-1322, email:
dg.prospectus_requests@baml.com.
The offering of these securities is being made solely by means
of a prospectus supplement and the accompanying prospectus.
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 any
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Veritiv
Veritiv Corporation (NYSE: VRTV),
headquartered in Atlanta and a
Fortune 500® Company, is a leading North American
business-to-business distributor of print, publishing, packaging,
and facility solutions; and also a provider of logistics and supply
chain management services. Serving customers in a wide range
of industries, the Company has approximately 180 distribution
centers throughout the U.S., Mexico and Canada, and employs approximately 8,800 team
members worldwide that help shape the success of its customers.
Safe Harbor Provision
Certain statements contained in
this press release regarding the proposed offering and share
repurchase are "forward-looking statements" subject to the safe
harbor created by the Private Securities Litigation Reform Act of
1995. Where possible, the words "believe," "expect," "anticipate,"
"intend," "should," "will," "would," "planned," "estimated,"
"potential," "goal," "outlook," "may," "predicts," "could," or the
negative of such terms, or other comparable expressions, as they
relate to the Company or its business, have been used to identify
such forward-looking statements. All forward-looking statements
reflect only the Company's current beliefs and assumptions with
respect to future operating results, performance, business plans,
prospects, guidance and other matters, and are based on information
currently available to the Company. Accordingly, the statements are
subject to significant risks, uncertainties and contingencies,
which could cause the Company's actual operating results,
performance, business plans or prospects to differ materially from
those expressed in, or implied by, these statements. Factors that
could cause actual results to differ materially from current
expectations include risks and other factors described under "Risk
Factors" in the Company's Annual Report on Form 10-K and elsewhere
in the Company's publicly available reports filed with the SEC,
which contain a discussion of various factors that may affect the
Company's business or financial results. The Company is not
responsible for updating the information contained in this press
release beyond the published date, or for changes made to this
document by wire services or Internet service providers.
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SOURCE Veritiv Corporation