Magna Announces Filing of Shelf Prospectus and Registration Statement
February 28 2023 - 5:05PM
Magna International Inc. (TSX: MG; NYSE: MGA) (“Magna” or “we”)
today announced that it has filed a short form base shelf
prospectus with the Ontario Securities Commission (the "OSC") and a
corresponding shelf registration statement with the United States
Securities and Exchange Commission (the "SEC") on Form F-10. Our
previous short form base shelf prospectus expired in June 2022.
Once the short form base shelf prospectus is
receipted by the OSC and the shelf registration statement becomes
effective, these filings will, subject to securities regulatory
requirements, qualify for issuance senior debt securities of Magna
from time to time over a 25-month period. The terms of future
offerings and the terms of the senior debt securities to be
offered, if any, will be established at the time of such offerings.
At the time any of the senior debt securities are offered for sale,
a prospectus supplement containing specific information about the
terms of any such offering will be filed with the OSC and the
SEC.
A registration statement relating to these
securities has been filed with the SEC but has not yet become
effective. The short form base shelf prospectus has been filed with
the OSC but remains to be receipted by the OSC. No senior debt
securities may be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective and until a
receipt for the short form base shelf prospectus has been issued by
the OSC.
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 jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor
Relationslouis.tonelli@magna.com, 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate
Communications & PRtracy.fuerst@magna.com, 248.761.7004
OUR BUSINESS1
Magna is more than one of the world’s largest
suppliers in the automotive space. We are a mobility technology
company with a global, entrepreneurial-minded team of over 168,0002
employees and an organizational structure designed to innovate like
a startup. With 65+ years of expertise, and a systems approach to
design, engineering and manufacturing that touches nearly every
aspect of the vehicle, we are positioned to support advancing
mobility in a transforming industry. Our global network includes
343 manufacturing operations and 88 product development,
engineering and sales centres spanning 29 countries.
For further information about Magna (NYSE:MGA;
TSX:MG), please visit www.magna.com or follow us on Twitter
@MagnaInt.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release
constitute "forward-looking information" or "forward-looking
statements" (collectively, "forward-looking statements"). Any such
forward-looking statements are intended to provide information
about management's current expectations and plans and may not be
appropriate for other purposes. Forward-looking statements may
include financial and other projections, as well as statements
regarding our future plans, strategic objectives or economic
performance, or the assumptions underlying any of the foregoing,
and other statements that are not recitations of historical fact.
We use words such as "may", "would", "could", "should", "will",
"likely", "expect", "anticipate", "believe", "intend", "plan",
"aim", "forecast", "outlook", "project", "estimate", "target" and
similar expressions suggesting future outcomes or events to
identify forward-looking statements. Forward-looking statements in
this press release include, but are not limited to, statements
relating to future sales of senior debt securities pursuant to the
short form base shelf prospectus and registration statement
referenced above and the filing of any shelf prospectus
supplements.
Forward-looking statements are based on
information currently available to us and are based on assumptions
and analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected
future developments, as well as other factors we believe are
appropriate in the circumstances. While we believe we have a
reasonable basis for making any such forward-looking statements,
they are not a guarantee of future performance or outcomes. Whether
actual results and developments conform to our expectations and
predictions is subject to a number of risks, assumptions and
uncertainties, many of which are beyond our control, and the
effects of which can be difficult to predict, including, without
limitation: risks related to the automotive industry; customer and
supplier related risks; manufacturing / operational risks; IT
security / cybersecurity risks; pricing risks; warranty / recall
risks; acquisition risks; other business risks; legal, regulatory
and other risks; and other factors set out in our Annual
Information Form filed with securities commissions in Canada and
our annual report on Form 40-F filed with the SEC, and subsequent
filings, which could cause actual events or results to differ
materially from those indicated by such forward-looking
statements.
In evaluating forward-looking statements, we
caution readers not to place undue reliance on any forward-looking
statement. Additionally, readers should specifically consider the
various factors which could cause actual events or results to
differ materially from those indicated by such forward-looking
statements, including the risks, assumptions and uncertainties
above which are discussed under the “Industry Trends and Risks”
heading of our Management’s Discussion and Analysis; and set out in
our Annual Information Form filed with securities commissions in
Canada, our annual report on Form 40-F filed with the SEC, and
subsequent filings. Readers should also consider discussion of our
risk mitigation activities with respect to certain risk factors,
which can be also found in our Annual Information Form.
__________________________________1
Manufacturing operations, product development, engineering and
sales centres include certain operations accounted for under the
equity method.2 Number of employees includes approximately 158,000
employees at our wholly owned or controlled entities and over
10,000 employees at certain operations accounted for under the
equity method.
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