PHILADELPHIA--(BUSINESS WIRE)--
Axalta Coating Systems Ltd. (NYSE: AXTA) has commenced a secondary
offering of 35,000,000 common shares. The shares will be offered by
certain affiliates of The Carlyle Group (the “selling shareholders”).
The offering is being made pursuant to a registration statement on Form
S-1 previously filed with the U.S. Securities and Exchange Commission.
The selling shareholders have also granted the underwriters a 30-day
option to purchase up to an additional 5,250,000 common shares. Axalta
will not receive any of the proceeds from the offering of shares by the
selling shareholders.
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P.
Morgan are lead book-running managers for the proposed secondary
offering. Additional book-running managers are BofA Merrill Lynch,
Barclays, Jefferies and UBS Investment Bank. Co-managers are Morgan
Stanley, BB&T Capital Markets, Nomura and SMBC Nikko.
Copies of the preliminary prospectus relating to the proposed secondary
offering may be obtained from Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone:
(800) 831-9146; Goldman, Sachs & Co., Attn: Prospectus Department, 200
West Street, New York, NY 10282, telephone: (866) 471-2526 or email: prospectus-ny@ny.email.gs.com;
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street,
New York, New York 10005, telephone: 800-503-4611 or email: prospectus.CPDG@db.com;
and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Ave., Edgewood, NY 11717 or telephone: (866) 803-9204.
The Company also announced today that Citigroup, Goldman, Sachs & Co.,
Deutsche Bank Securities and J.P. Morgan, the lead book-running managers
in the recent public sale of 57,500,000 common shares of the Company by
certain affiliates of The Carlyle Group, are terminating the lock-up
agreements entered into in connection with the Company’s initial public
offering by the Company’s officers and directors, each of whom has
entered into new lock-up agreements in connection with the new offering.
The termination will take effect on April 1, 2015.
Important Information
A registration statement relating to these securities has been filed
with the SEC 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 press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Cautionary Statement Concerning Forward-Looking Statements
This release may contain certain forward-looking statements regarding
Axalta and its subsidiaries and the secondary offering of Axalta’s
common shares. All of these statements are based on management’s
expectations as well as estimates and assumptions prepared by management
that, although they believe to be reasonable, are inherently uncertain.
These statements involve risks and uncertainties, including, but not
limited to, economic, competitive, governmental and technological
factors outside of Axalta’s control that may cause its business,
industry, strategy, financing activities or actual results to differ
materially. Axalta undertakes no obligation to update or revise any of
the forward-looking statements contained herein, whether as a result of
new information, future events or otherwise.
About Axalta Coating Systems
Axalta is a leading global company focused solely on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light OEM vehicles, commercial vehicles and refinish
applications to electric motors, buildings and pipelines, our coatings
are designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With more than 145 years of experience
in the coatings industry, the 12,000 people of Axalta continue to find
ways to serve our more than 120,000 customers in 130 countries better
every day with the finest coatings, application systems and technology.
For more information visit www.axaltacoatingsystems.com
and follow us @axalta on twitter.
Source: Axalta Coating Systems Ltd.