INITIAL PUBLIC OFFERING OF THE SCOTTS COMPANY AT $19 PER SHARE DECLARED EFFECTIVE
INITIAL PUBLIC OFFERING OF THE SCOTTS COMPANY
AT $19 PER SHARE DECLARED EFFECTIVE
MARYSVILLE, Ohio, Jan. 31 /PRNewswire/ -- The Scotts Company (NASDAQ: SCTT) announced today that its registration statement with respect to its initial public offering of 12,500,000 shares of Class A common stock at $19 per share has been declared effective by the Securities and Exchange Commission.
Of the shares being offered, 8,500,000 shares will be sold by the company and 4,000,000 shares will be sold by certain selling stockholders, none of whom are members of management. The underwriters have been granted an over-allotment option to purchase up to an additional 1,875,000 shares.
With sales of $388 million in fiscal year 1991, Scotts is the country's leading producer and marketer of consumer do-it-yourself lawn care and professional golf course turf care products. The company's products include fertilizers, weed and insect controls, grass seed, organic products and lawn spreaders. The Scotts Company was formed in 1986 by Clayton & Dubilier, Inc., a New York - based private investment firm, to acquire The O.M. Scott & Sons Company.
The company's shares will be listed on NASDAQ under the symbol SCTT and will begin trading today.
Goldman, Sachs & Co., The First Boston Corporation and Kidder, Peabody & Co. Incorporated, and their international affiliates, are acting as representatives of the underwriters.
Copies of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, N.Y. 10004, from The First Boston Corporation, 227 West Monroe, 42nd Floor, Chicago, Ill. 60606, or from Kidder, Peabody & Co. Incorporated, 60 Broad Street, 6th floor, New York, N.Y., 10005.
/CONTACT: Thomas C. Franco or Allison Sargent, 212-229-2222, for the Scotts Company/
(SCTT) CO: The Scotts Company ST: Ohio IN: SU: OFR PS -- NY003 -- 5530 01/31/92 10:29 EST