CAMDEN, N.Y.--(BUSINESS WIRE)--International Wire Group Holdings, Inc. ("Holdings") (OTC Pink: ITWG) announced today that it has closed the private offering of $26.0 million principal amount of its 10.00%/12.00% Senior PIK Toggle Notes due 2020 (the "Notes"). The Notes will pay interest semi-annually on April 15 and October 15, beginning on October 15, 2015. The Notes are the unsecured obligation of Holdings.
Holdings received $26.0 million in gross proceeds from the Notes offering (the "Offering"), which were used for share repurchases and general corporate purposes. After giving effect to such repurchases, Holdings has 4,644,454 total outstanding shares.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold in the United States or for the account or benefit of any United States citizen or in any way distributed in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered only to accredited investors in reliance on Regulation D under the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes in the United States. The Notes will not be sold in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About International Wire Group Holdings, Inc.
International Wire Group Holdings, Inc., through its subsidiaries, is a manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, for other wire suppliers, distributors and original equipment manufacturers. Its products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics and are utilized by a wide variety of customers primarily in the aerospace, automotive/specialty vehicles, consumer and appliance, electronics and data communications, industrial and energy, medical device and medical electronics markets. The Company has eighteen manufacturing and two distribution facilities located in the United States, Belgium, France, Italy and Poland.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release may include certain "forward-looking" statements. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believes," "expects," "may," "will," "would," "should," "seeks," "pro forma," "anticipates," "intends," "plans," "estimates," or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Many important factors could cause our results to differ materially from those expressed in these forward looking statements. These factors include, but are not limited to, general market conditions, national or global events affecting the capital markets, unforeseen developments in our business or industry or changes in law or regulations.