Citation Corp. plans public offering.BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 4, 1995--Citation Corp. (Nasdaq:CAST) today announced it has filed a registration statement with the Securities and Exchange Commission in connection with a proposed public offering of 4,000,000 shares of common stock. The company intends to use all of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering to reduce amounts outstanding under its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility, most of which was incurred in connection with its six acquisitions since August 1994, including its Aug. 1, 1995, acquisition of the Castwell Products Division of Wells Manufacturing Co. Stephens Inc., the Robinson-Humphrey Co. Inc. and Equitable Securities Corp. will co-manage the underwriting syndicate Underwriting syndicate A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter. underwriting syndicate See syndicate. for the public offering. Copies of the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders are anticipated to be available in early September and can be obtained from representatives of Stephens Inc. at 111 Center St., Little Rock, Ark. 72201 (501-377-2130), the Robinson-Humphrey Co. Inc. at 3333 Peachtree Rd. N.E., Atlanta, Ga. 30326 (404-266-6450) or Equitable Securities Corp. at 800 Nashville City Center, Nashville, Tenn. 37219 (615-780-9300). A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication 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. Citation Corp. is a Birmingham-based manufacturer of precision ductile ductile /duc·tile/ (duk´til) susceptible of being drawn out without breaking. duc·tile adj. Easily molded or shaped. ductile susceptible of being drawn out without breaking. , gray and high-alloy iron, steel and aluminum castings. CONTACT: Citation Corp., Birmingham Stanley B. Atkins, 205/871-5731 |
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