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UCC INVESTORS ANNOUNCES IT INTENDS TO FILE NEXT WEEK AN INITIAL PUBLIC OFFERING OF STOCK AND DEBT OF $700 MILLION

UCC INVESTORS ANNOUNCES IT INTENDS TO FILE NEXT WEEK AN INITIAL
 PUBLIC OFFERING OF STOCK AND DEBT OF $700 MILLION
 MIDDLEBURY, Conn., Jan. 24 /PRNewswire/ -- UCC Investors Holding, Inc., the parent company of Uniroyal Chemical Company, Inc., announced today that it intends to file next week with the Securities and Exchange Commission a Registration Statement relating to a proposed initial public offering of its common stock for approximately $400 million. An initial public offering price range of from $14 to $16 per share is contemplated for the common stock offering after giving effect to a 1 for 2 reverse stock split and anticipated dilution arising in connection with the offering.
 In addition, UCC Investors announced that it also intends to file with the Securities and Exchange Commission next week a separate Registration Statement relating to the proposed public offering of approximately $300 million principal amount of new senior notes.
 The offerings would be subject to, among other things, stockholder approval and consents from certain banks and other institutional lenders. There can be no assurance that any registration statement will be filed with the Securities and Exchange Commission or that any offering of common stock or new senior notes will be made or, if made, that any offering will be consummated.
 The aggregate proceeds of approximately $700 million from the common stock and new senior notes offerings are intended to be used (i) to retire UCC Investors' 14 percent Senior Discount Notes Due 1999 at 110.9 percent of accreted value, (ii) to retire the 13.5 percent Senior Subordinated Notes Due 1997 of Uniroyal Chemical Acquisition Corporation, an indirect wholly owned subsidiary of UCC Investors, at 109.64 percent of principal amount, (iii) to retire the 14.25 percent Subordinated Notes Due 1998 of UCAC at 108.91 percent of principal amount and (iv) to pay fees and expenses in connection with the offerings.
 Registration Statements have not yet been filed with the Securities and Exchange Commission in connection with the common stock or the new senior notes contemplated to be offered. The offerings will be made and details provided only by means of prospectuses which will become available if and when registration statements are filed. Neither the common stock nor the new senior notes may be sold, nor may offers to buy the common stock or the new senior notes be accepted, prior to the time the respective registration statements relating thereto are filed with the Securities and Exchange Commission and become effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock or the new senior notes 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.
 UCC Investors Holding, Inc., through its wholly owned subsidiary, Uniroyal Chemical Company, Inc., is a specialty chemical company whose principal business lines include specialty rubber chemicals, specialty chemical additives, elastomers, crop protection chemicals and urethane pre-polymers.
 -0- 1/24/92
 /CONTACT: Robert Petrausch of UCC Investors Holding, Inc., 203-573-2000/ CO: UCC Investors Holding, Inc.; Uniroyal Chemical Company, Inc. ST: Connecticut IN: CHM SU: OFR


TW-SB -- DC005 -- 3158 01/24/92 09:34 EST
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Publication:PR Newswire
Date:Jan 24, 1992
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