Attached files
file | filename |
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8-K - FORM 8-K - Commercial Vehicle Group, Inc. | c57051e8vk.htm |
EX-5.1 - EX-5.1 - Commercial Vehicle Group, Inc. | c57051exv5w1.htm |
EX-1.1 - EX-1.1 - Commercial Vehicle Group, Inc. | c57051exv1w1.htm |
EX-99.2 - EX-99.2 - Commercial Vehicle Group, Inc. | c57051exv99w2.htm |
Exhibit 99.1
CONTACT:
|
John Hyre, Investor Relations | Tom Lacy, Magaging Director | ||||
Commercial Vehicle Group, Inc. | Robert W. Baird & Co. | |||||
(614) 289-5157 | (414) 298-7648 |
FOR IMMEDIATE RELEASE
COMMERCIAL VEHICLE GROUP ANNOUNCES PRICING OF
COMMON STOCK OFFERING
COMMON STOCK OFFERING
NEW ALBANY, OHIO, March 19, 2010 Commercial Vehicle Group, Inc. (Nasdaq: CVGI) announced today
that it priced a public offering of 3,800,000 shares of common stock
at a price of $6.25 per share
to the public. The Company will grant the underwriter in the offering an option to purchase up to
570,000 additional shares of common stock at the same price per share to cover any over-allotments.
The public offering of the shares is expected to close on March 24, 2010.
Assuming no exercise of the underwriters over-allotment option, the Company expects to receive net
proceeds from the offering of approximately $22,050,000 million after deducting underwriting discounts
and commissions and estimated expenses of the offering. The Company expects to use the net
proceeds from the offering for general corporate and working capital purposes, including the
funding of strategic initiatives that the Company may undertake from time to time.
Robert W. Baird & Co. acted as underwriter for the offering. The offering is being
made only by means of a prospectus and related prospectus supplement, copies of which may be
obtained from the offices of Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, 28th
Floor, Milwaukee, Wisconsin 53202-5391, or by calling 1-800-792-2413. Electronic copies of the
prospectus and the prospectus supplement are available on the Securities and Exchange Commissions
Web site at www.sec.gov.
The shares are being offered pursuant to an effective registration statement. This press release
does not constitute an offer to sell these securities or a solicitation of an offer to buy these
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 Commercial Vehicle Group, Inc.
Commercial Vehicle Group, Inc. is a leading supplier of fully integrated system solutions for the
global commercial vehicle market, including the heavy-duty truck market, the construction and
agriculture market and the specialty and military transportation markets. The Companys products
include suspension seat systems, interior trim systems, such as instrument and door panels,
headliners, cabinetry, molded products and floor systems, cab structures and components, mirrors,
wiper systems, electronic wiring harness assemblies and controls and switches specifically designed
for applications in commercial vehicle cabs. The Company is headquartered in New Albany, OH with
operations throughout North America, Europe and Asia. Information about the Company and its
products is available on the internet at www.cvgrp.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties.
These statements often include words such as believe, expect, anticipate, intend, plan,
estimate, or similar expressions. In particular, this press release may contain forward-looking
statements about Company expectations for future periods with respect
to the offering and the use of proceeds therefrom and the
Companys Strategic initiatives. These statements are based on certain assumptions that
the Company has made in light of its experience in the industry as well as its perspective on
historical trends, current conditions, expected future developments and other factors it believes
are appropriate under the circumstances. Actual results may differ materially from the anticipated
results because of certain risks and uncertainties, including but not limited to: (i) general
economic or business conditions affecting the markets in which the Company serves; (ii) the
Companys ability to develop or successfully introduce new products; (iii) risks associated with
conducting business in foreign countries and currencies; (iv) increased competition in the
heavy-duty truck market; (v) the impact of changes in governmental regulations on the Companys
customers or on its business; (vi) the loss of business from a major customer or the
discontinuation of particular commercial vehicle platforms; (vii) the Companys ability to obtain
future financing due to changes in the lending markets or its financial position; and (viii)
various other risks as outlined under the heading Risk Factors in the Companys Annual Report on
Form 10-K for fiscal year ending December 31, 2009. There can be no assurance that statements made
in this press release relating to future events will be achieved. The Company undertakes no
obligation to update or revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating results over time. All subsequent
written and oral forward-looking statements attributable to the Company or persons acting on behalf
of the Company are expressly qualified in their entirety by such cautionary statements.
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