Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Koppers Announces Sale of Common Stock Owned by Saratoga and Others
Pittsburgh, Pennsylvania, USA, 27 February 2007 -- /PRNewswire/ -- Koppers Holdings Inc. (NYSE:KOP) announced today a secondary offering of 1,610,000 shares of the company's common stock. The shares are being offered through Credit Suisse Securities (USA) LLC. The underwriter also has a 30-day option to purchase up to an additional 241,500 shares of common stock to cover over-allotments, if any.

All of the shares are currently issued and outstanding. Of the total offering, 1,500,000 shares are being sold by Koppers' largest shareholder, Saratoga Partners III, LP and affiliated companies, which, after the consummation of this proposed offering, will own approximately 12% of Koppers' outstanding shares, excluding the effect of shares sold for over-allotments, if any. Saratoga is a private equity firm.

Additionally, certain executive officers of the company, including president and CEO Walter W. Turner, are selling an aggregate of 110,000 shares in the offering with no over-allotment provision. Turner is selling 50,000 shares, representing approximately 13% of his total beneficial ownership in the company, for asset diversification purposes.

Koppers will not receive any proceeds from the sale.

As part of the offering, the company, Saratoga, and certain officers will be subject to a 60-day "lock-up" period, subject to certain exceptions, including exceptions relating to 10b5-1 trading plans for officers.

A copy of the prospectus relating to these securities may be obtained, when available, from the prospectus department of Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, New York 10010, 800-221-1037.

About Koppers

Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim, and South Africa. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol "KOP." For more information, visit www.koppers.com. Questions concerning investor relations should be directed to Brian H. McCurrie at 412 227 2153 or Michael W. Snyder at 412 227 2131.

Source: Koppers Holdings Inc.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: