RTI International Metals Announces Exercise of $52.5 Million Over-Allotment
for Convertible Senior Notes Offering
PITTSBURGH -- April 24, 2013
RTI International Metals, Inc. (NYSE: RTI), today announced the exercise and
closing of the full $52.5 million over-allotment option related to its $350
million 1.625% Convertible Senior Notes due 2019 (the “Convertible Notes”),
which closed earlier this month. In total, RTI issued $402.5 million aggregate
principal amount of the Convertible Notes. Total net proceeds to the Company,
after deducting underwriting discounts and estimated offering expenses, was
approximately $389.9 million.
Barclays Capital Inc. and Citigroup Global Markets Inc. acted as joint
book-running managers of the offering.
The offering was made only by means of a written prospectus forming a part of
the effective registration statement. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities, nor shall
there be any sales of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any jurisdiction.
The statements in this release relating to matters that are not historical
facts are “forward-looking” statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934 that may involve risks and uncertainties and certain other factors, which
may include, among others, the current market demand for these types of
securities generally and the securities of RTI specifically, conditions in the
financial markets, and customary offering closing conditions. In accordance
with “safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995, cautionary statements identifying important factors, but not
necessarily all factors, that could cause actual results to differ materially
from those set forth in the forward-looking statement have been included in
the prospectus for this offering, the Form 10-K of RTI for the year ended
December 31, 2012, and in subsequent filings for RTI. Please see RTI’s filings
with the SEC for certain other risks that could impact the offering or RTI’s
RTI International Metals, Inc., headquartered in Pittsburgh, specializes in
advanced titanium, meeting the requirements of the world's most
technologically sophisticated applications in aerospace, defense, propulsion,
medical device, energy, industrial, and chemical markets. For over 60 years,
RTI has been taking titanium further through advanced manufacturing,
engineering, machining, and forming processes. RTI delivers titanium mill
products, extruded shapes, form-ready parts, and highly engineered components
through our downstream-integrated supply chain. RTI has locations in the
United States, Canada, Europe, and Asia.
RTI International Metals, Inc.
Dan Crookshank, Director – Investor Relations, 412-893-0084
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