ROCHESTER, N. H.--(BUSINESS WIRE)--Jun. 4, 2019--
Albany International Corp. (NYSE: AIN) (the “Company”) today announced
the closing of the previously announced secondary offering of shares of
its Class A common stock, par value $0.001 per share (the “Class A
Common Stock”). Standish Family Holdings, LLC and J.S. Standish Company
(collectively, the “Selling Stockholders”) sold 1,405,217 shares of
Class A Common Stock at a price to the public of $68.00 per share.
In connection with the offering, Standish Family Holdings, LLC granted
the underwriters a 30-day option to purchase up to 210,783 additional
shares of Class A Common Stock. On May 31, 2019, the underwriters
exercised the option in full. As a result, the total number of shares of
Class A Common Stock sold was increased to 1,616,000. The Selling
Stockholders received all of the net proceeds from this offering. No
shares were sold by the Company.
J.P. Morgan and BofA Merrill Lynch have acted as joint book-running
managers and representatives of the underwriters for the offering.
Baird, Cowen, SunTrust Robinson Humphrey and Sidoti & Company, LLC have
acted as co-managers for the offering.
A Registration Statement on Form S-3 (including a prospectus) relating
to these securities has been filed with the Securities and Exchange
Commission (the “SEC”) and is effective. A copy of the prospectus and
accompanying prospectus supplement related to the offering may be
obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone
at 1-866-803-9204; or BofA Merrill Lynch, Attention: Prospectus
Department, 200 North College Street, 3rd Floor, Charlotte, NC 28255, or
by email at dg.prospectus_requests@baml.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Albany International Corp.
Albany International Corp. is a leading developer and manufacturer of
engineered components, using advanced materials processing and
automation capabilities, with two core businesses. Machine Clothing is
the world’s leading producer of fabrics and process felts used in the
manufacture of all grades of paper products. Albany Engineered
Composites is a rapidly growing designer and manufacturer of advanced
materials-based engineered components for jet engine and airframe
applications, supporting both commercial and military platforms. Albany
International is headquartered in Rochester, New Hampshire, operates 22
plants in 10 countries, employs 4,400 people worldwide, and is listed on
the New York Stock Exchange (Symbol: AIN).
Cautionary Note Regarding Forward-Looking Statements
This press release may contain statements, estimates, or projections
that constitute “forward-looking statements” as defined under U.S.
federal securities laws. Because forward-looking statements are subject
to certain risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Certain of the risks and uncertainties to which the Company is subject
are described in the Registration Statement on Form S-3 under the
heading “Cautionary Note Regarding Forward-Looking Statements,” the
Prospectus Supplement dated May 30, 2019 under the headings “Cautionary
note regarding forward-looking statements” and “Risk factors,” the
Company’s Annual Report on Form 10-K for the year ended December 31,
2018 under the headings “Forward-Looking Statements” and “Risk Factors,”
the Company’s Quarterly Report on Form 10-Q for the quarter ended March
31, 2019 under the heading “Forward-Looking Statements” and other
applicable filings with the SEC. Such forward-looking statements are
based on current expectations, and the Company undertakes no obligation
to publicly update or revise any forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190604006066/en/
Source: Albany International Corp.
Investor contact:
Stephen Nolan
518-445-2281
stephen.nolan@albint.com
Media contact:
Heather Kralik
801-505-7001
heather.kralik@albint.com