PHILADELPHIA--(BUSINESS WIRE)--
Axalta Coating Systems Ltd. (NYSE: AXTA) has priced a secondary offering
of 30,000,000 of its common shares at $29.75 per share. All of the
shares are being offered by certain affiliates of The Carlyle Group (the
“selling shareholders”). The selling shareholders have also granted the
underwriters a 30-day option to purchase up to an additional 4,500,000
common shares. Axalta will not receive any proceeds from the offering,
including from any exercise by the underwriters of their option to
purchase additional common shares.
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P.
Morgan are lead book-running managers for the offering. Additional
book-running managers are BofA Merrill Lynch, Barclays, Credit Suisse,
Jefferies and UBS Investment Bank. Co-managers are Morgan Stanley, BB&T
Capital Markets, Nomura, SMBC Nikko and Academy Securities.
A registration statement relating to these securities has been filed
with, and declared effective on August 11, 2015 by, the SEC. The
offering of these securities is being made only by means of a written
prospectus forming part of the effective registration statement. A copy
of the final prospectus related to the offering will be filed with the
SEC, which may be obtained, when available, 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.
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 contains 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 nearly 150 years of experience in
the coatings industry, the approximately 12,800 people of Axalta
continue to find ways to serve our more than 120,000 customers in over
130 countries better every day with the finest coatings, application
systems and technology.
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Source: Axalta Coating Systems Ltd.