Federal-Mogul Announces Completion of Rights Offering
(Thomson Reuters ONE) -
Southfield, Michigan, July 11, 2013 . Federal-Mogul Corporation (NASDAQ:FDML)
("Federal-Mogul") today announced the completion of its previously announced
common stock rights offering. The subscription period for the rights offering
expired at 5:00 p.m., Eastern Daylight Time, on July 9, 2013. Subscription
rights to purchase 51,124,744 shares of Federal-Mogul's common stock (the full
amount of the offering) were exercised. The rights offering resulted in gross
proceeds to Federal-Mogul of approximately $500 million.
Any questions regarding the rights offering should be directed to D.F. King &
Co. Inc., the Information Agent for the rights offering, by calling
1-800-901-0068 (toll-free) or 1-212-269-5550 (collect).
The rights offering was made pursuant to a shelf registration statement on Form
S-3 that was previously filed with the Securities and Exchange Commission (the
"SEC") and became effective on May 1, 2013. The rights offering was made solely
by means of the prospectus and prospectus supplement, as amended, that was filed
with the SEC on June 7, 2013.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any offer, solicitation or
sale of 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.
About Federal-Mogul
Federal-Mogul Corporation (NASDAQ: FDML) is a leading global supplier of
products and services to the world's manufacturers and servicers of vehicles and
equipment in the automotive, light, medium and heavy-duty commercial, marine,
rail, aerospace, power generation and industrial markets. The company's products
and services enable improved fuel economy, reduced emissions and enhanced
vehicle safety.
Federal-Mogul operates two independent business segments, each with a chief
executive officer reporting to Federal-Mogul's Board of Directors. Federal-
Mogul's Powertrain Segment designs and manufactures original equipment
powertrain components and systems protection products for automotive, heavy-
duty, industrial and transport applications.
Federal-Mogul's Vehicle Components Segment sells and distributes a broad
portfolio of products through more than 20 of the world's most recognized brands
in the global vehicle aftermarket, while also serving original equipment vehicle
manufacturers with products including braking, chassis, wipers and other vehicle
components. The company's aftermarket brands include ANCO(®) wiper blades;
Champion(®) spark plugs, wipers and filters; AE(®), Fel-Pro(®), FP Diesel(®),
Goetze(®), Glyco(®), Nüral(®), Payen(®) and Sealed Power(®) engine products;
MOOG(®) steering and suspension parts; and Ferodo(®) and Wagner(®) brake
products. Federal-Mogul was founded in Detroit in 1899. The company employs
45,000 people in 34 countries, and its worldwide headquarters is in Southfield,
Michigan, United States. For more information, please visit
www.federalmogul.com.
Forward-Looking Statements
Statements contained in this press release, which are not historical fact,
constitute "Forward-Looking Statements." Actual results may differ materially
due to numerous important factors that are described in Federal-Mogul's most
recent report to the SEC on Form 10-K, which may be revised or supplemented in
subsequent reports to the SEC on Forms 10-Q and 8-K. Such factors include,
among others, fluctuations in domestic or foreign vehicle production;
fluctuations in the demand for vehicles containing our products; the ability to
refinance the Company's outstanding indebtedness on commercially reasonable
terms or at all; the ability to successfully complete the rights offering and
the possible effects of the rights offering on the Company's stockholders; the
Company's ability to generate cost savings or manufacturing efficiencies to
offset or exceed contractually or competitively required price reductions or
price reductions to obtain new business; the costs, timing and success of the
Company's restructuring actions; conditions in the automotive industry; the
success of the company's segmentation and corresponding effects; and general
global and regional economic conditions. Federal-Mogul does not intend or assume
any obligation to update any forward-looking statements.
CONTACTS: Steve Gaut (248) 354-7826 for investor and media questions
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Federal-Mogul Corporation via Thomson Reuters ONE
[HUG#1715669]
Unternehmensinformation / Kurzprofil:
Datum: 11.07.2013 - 14:30 Uhr
Sprache: Deutsch
News-ID 277615
Anzahl Zeichen: 5633
contact information:
Town:
Southfield
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 150 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Federal-Mogul Announces Completion of Rights Offering"
steht unter der journalistisch-redaktionellen Verantwortung von
Federal-Mogul Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
