Ampco-Pittsburgh Corporation Announces Pricing of Units and Series A Warrants for its Rights Offering
Ampco-Pittsburgh Corporation Announces Pricing of Units and Series A Warrants for its Rights Offering
08/13/20, 11:51 AM
Round Type
series a
Ampco-Pittsburgh Corporation (NYSE: AP) (the “Corporation” or “Ampco-Pittsburgh”) today announced the pricing of the units and Series A warrants being offered as part of its previously announced $20.0 million rights offering (the “rights offering”). The rights offering will allow Ampco-Pittsburgh’s shareholders of record as of August 17, 2020, to purchase up to 12,800,795 units. Units consist of shares of common stock (the “Common Shares”) and Series A warrants to purchase Common Shares, which expires on August 1, 2025. The subscription price for units entitling participants in the rights offering to a whole Common Share and receive a Series A warrant to purchase a whole Common Share has been set at $3.50, representing a 17% premium to the closing price for the Common Shares on the New York Stock Exchange on August 12, 2020
Company Info
Additional Info
AccelFoods is an early-stage venture fund investing in consumer products.
We partner with entrepreneurs to bring innovative, high-quality food and
beverage products to the forefront of the industry and create the next
generation of enduring brands. With nearly $40m under management, we are
hands-on partners that work tactically with our founders to scale their
businesses quickly and smartly. We connect the dots within the broader food
& beverage ecosystem to provide unique access, share distinct expertise,
and build solid infrastructure.