DuPont Photomasks Announces Proposed Follow-On
Offering
Tuesday May 12, 4:59 pm Eastern Time
biz.yahoo.com
ROUND ROCK, Texas--(BUSINESS WIRE)--May 12, 1998--DuPont Photomasks, Inc.
(NASDAQ: DPMI - news), more commonly referred to as DPI, today announced that it has filed a
registration statement with the Securities and Exchange Commission for a follow-on public offering
of its common stock.
The company has filed to register 2.7 million shares of its common stock, 2 million of which would be
sold by a wholly owned subsidiary of E.I. du Pont de Nemours and Company (NYSE:DD - news) as
part of their previously announced intention to reduce their ownership interest in DPI. The remaining
700,000 shares would be sold by DPI. In addition, DuPont and DPI have agreed to sell 300,000 and
105,000 shares, respectively, to cover over-allotments.
Net proceeds from the DPI portion of the offering will be used for general corporate purposes,
including working capital, capital expenditures and potential acquisitions. The company may also use
a portion of the net proceeds to repay certain indebtedness. DPI will not receive any proceeds from
the sale of shares of the common stock owned by DuPont.
The managing underwriters for the offering are Morgan Stanley Dean Witter, Deutsche Morgan
Grenfell, Donaldson, Lufkin & Jenrette Securities Corporation, NationsBanc Montgomery Securities
LLC and Needham & Company, Inc.
A registration statement relating to these securities has been filed with the Securities and Exchange
Commission, but has not yet become effective. These securities may not be sold, nor may offers to
buy be accepted, prior to the time the registration statement becomes effective. This announcement
is neither an offer to sell nor a 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 such state. The offer will be made only by means of a
prospectus, written copies of which may be obtained by contacting Morgan Stanley Dean Witter.
Incorporated, 1585 Broadway, New York, NY 10036-8293, (212) 761-4000.
Based on sales, DPI is one of the world's largest photomask manufacturers, operating globally from
ten strategically located facilities in North America, Europe and Asia. The company produces and
supplies photomasks as well as photoblanks (photomask substrates) and pellicles (protective covers
for photomasks). DPI is headquartered in Round Rock, Texas, and had worldwide sales in fiscal
1997 of over $260 million.
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The recent Dupont news of refocusing the company made me wonder if this might occur. DPMI's parent will still control the majority of
shares. I'd like to see who's selling the 700k of shares @ DPMI.
Regards,
DKG |
