K & F Industries Holdings, Inc. Prices IPO at $17.50/Share
09 Août 2005 - 5:13PM
PR Newswire (US)
WHITE PLAINS, N.Y., Aug. 9 /PRNewswire-FirstCall/ -- K&F
Industries Holdings, Inc. (NYSE:KFI), announced the pricing of its
initial public offering of 18,000,000 shares of common stock on
August 8, at a price of $17.50 per share, which was within the
estimated $16-$18 range. K&F has granted the underwriters a
30-day option to purchase an additional 2,700,000 shares of common
stock at the initial offering price to cover over-allotments, if
any. The shares will commence trading today on the New York Stock
Exchange under the symbol KFI. The offering was made through an
underwriting syndicate led by Goldman, Sachs & Co. and Lehman
Brothers Inc., who acted as joint book- running managers. Proceeds
of the offering are expected to be used by K&F to redeem all of
K&F's outstanding 11-1/2 percent senior PIK notes due 2015 (the
"notes"), redeem all of K&F's outstanding Junior/Series A
Redeemable Exchangeable Preferred Stock (the "junior preferred
stock"), pay a cash dividend to existing stockholders and pay
related expenses. A copy of the prospectus relating to these
securities may be obtained from Goldman, Sachs & Co., Attn:
Registration Department, 85 Broad Street, New York, New York 10004
(212/902-1000) or Lehman Brothers Inc., c/o ADP Financial Services,
Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY
11717, email: , fax: 631/254-7268. A registration statement
relating to these securities has been declared effective by the
Securities and Exchange Commission. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, these securities in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. This press release is for informational purposes only and is
not an offer to purchase, a solicitation of an offer to purchase or
a solicitation of a consent with respect to any of the notes or the
junior preferred stock. About K&F K&F Industries Holdings,
Inc., through its Aircraft Braking Systems Corporation subsidiary,
manufactures wheels, brakes and brake control systems for
commercial transport, general aviation and military aircraft.
K&F's other subsidiary, Engineered Fabrics Corporation,
manufactures aircraft fuel tanks, de-icing equipment and specialty
coated fabrics used for storage, shipping, environmental and rescue
applications for commercial and military use. Forward Looking
Statements Some statements and information contained herein are not
historical facts, but are "forward-looking statements," as that
term is defined in the Private Securities Litigation Reform Act of
1995. In addition, the Company or its representatives have made and
may continue to make forward-looking statements, orally, in writing
or in other contexts, such as in reports filed with SEC or press
releases. These forward-looking statements may be identified by the
use of forward-looking terminology, such as "believes," "expects,"
"may," "should" or the like, the negative of these words or other
variations of these words or comparable words, or discussion of
strategy that involves risk and uncertainties. We caution you that
these forward-looking statements are only predictions, and actual
events or results may differ materially as a result of a wide
variety of factors and conditions, many of which are beyond our
control. Some of these factors and conditions include, but are not
limited to: (i) government or regulatory changes, (ii) dependence
on our subsidiary, Aircraft Braking Systems Corporation, for
operating income, (iii) competition in the market for our products,
(iv) our substantial indebtedness, (v) adverse conditions in the
public capital markets, (vi) a change in the terms or structure of,
or the decision to abandon, the proposed transaction, (vii) the
failure for any reason to consummate the transaction on the
proposed terms or otherwise, and (viii) other risks and
uncertainties detailed in the registration statement referenced
above. This press release should be read in conjunction with our
periodic reports filed with the SEC. We undertake no obligation to
revise these statements following the date of this press release.
Web site: DATASOURCE: K & F Industries Holdings, Inc. CONTACT:
Kenneth M. Schwartz, +1-914-448-2700
Copyright