PEMSTAR Prices 6 Million Shares of Common Stock
ROCHESTER, Minn.--(BUSINESS WIRE)--June 8, 2001--PEMSTAR Inc., (Nasdaq:PMTR) announced today that it successfully priced a follow-on offering of 6,000,000 shares of its Common Stock at $13.50 per share. 5,375,000 of the shares are being sold by PEMSTAR raising gross proceeds of $72.6 million for the company, and the remaining 625,000 shares are being sold by certain shareholders. The offering was increased from its initial size of 5,125,000 shares due to investor demand. In addition, PEMSTAR has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any.
Net proceeds of the offering received by PEMSTAR will be used to repay indebtedness under existing credit facilities.
The offering was managed by an underwriting group led by joint book-running managers Lehman Brothers and JPMorgan, and co-managed by Robertson Stephens and CIBC World Markets.
Copies of the final prospectus relating to this offering may be obtained from Lehman Brothers, 3 World Financial Center, New York, NY 10285, (212) 526-7000; and JPMorgan, One Bush Street, San Francisco, CA 94104, (415) 371-3000. This press release does not constitute an offer to sell any of the securities under the offering.
PEMSTAR Inc. (www.PEMSTAR.com) provides a comprehensive range of engineering, manufacturing, distribution and aftermarket support services to customers on a global basis through facilities strategically located in the United States, Mexico, Asia, Europe and South America. PEMSTAR service offerings support customer needs from product development and design through manufacturing to worldwide distribution and aftermarket support. The company has more than a million square feet in 15 facilities in 13 locations worldwide.
CONTACT:
PEMSTAR Inc., Rochester
Bill Kullback, 507/292-6941
IR@pemstar.com
or
Padilla Speer Beardsley Inc.
Marian Briggs, 612/871-8877
mbriggs@psbpr.com
or
Matt Sullivan, 612/871-8877
msullivan@psbpr.com
KEYWORD: MINNESOT |
