Sealed Air Corporation Announces Secondary Offering by Selling Stockholder
June 9, 2014 at 4:45 PM EDT
ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Jun. 9, 2014--
Sealed Air Corporation (“Sealed Air”) (NYSE:SEE) announced today that
the WRG Asbestos PI Trust (the “selling stockholder”) has agreed to sell
5,000,000 shares of common stock, par value $0.10 per share (“Common
Stock”) of Sealed Air, in an underwritten secondary offering on a bought
deal basis. Sealed Air will not sell any shares in the offering and will
not receive any proceeds from the offering. Concurrently with, and
conditioned upon the completion of, this offering, Sealed Air has agreed
to purchase $130 million of Common Stock from the selling stockholder at
the price at which the shares of Common Stock are sold to the
underwriter in the secondary offering.
Credit Suisse Securities (USA) LLC is serving as the sole underwriter of
the offering.
The shares will be offered pursuant to an effective registration
statement previously filed with the Securities and Exchange Commission.
A prospectus supplement relating to the offering will be filed with the
Securities and Exchange Commission. Copies of the prospectus supplement
and the accompanying prospectus when available may be obtained by
contacting Credit Suisse Securities (USA) LLC by mail at Credit Suisse
Securities (USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, New York 10010, by telephone at (800) 221-1037, or by
Email at newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other 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 other
jurisdiction. The offering of these securities will be made only by
means of the prospectus supplement and the accompanying prospectus.
Business
Sealed Air creates a world that feels, tastes and works better. In 2013,
Sealed Air generated revenue of approximately $7.7 billion by helping
our customers achieve their sustainability goals in the face of today’s
biggest social and environmental challenges. Our portfolio of widely
recognized brands, including Cryovac® brand food packaging solutions,
Bubble Wrap® brand cushioning and Diversey™ cleaning and hygiene
solutions, ensures a safer and less wasteful food supply chain, protects
valuable goods shipped around the world, and improves health through
clean environments. Sealed Air has approximately 25,000 employees who
serve customers in 175 countries. To learn more, visit www.sealedair.com.
Information on Sealed Air’s website is not incorporated into, and does
not form a part of, this press release.
Forward-Looking Statements
Statements in this press release may be “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995 concerning our business, consolidated financial condition and
results of operations. These statements include comments as to future
events that may affect Sealed Air, which are based upon management’s
current expectations and are subject to uncertainties, many of which are
outside Sealed Air’s control. Forward-looking statements can be
identified by such words as “anticipates,” “expects,” “believes,”
“plan,” “could,” “estimate,” “will” and similar expressions. A variety
of factors may cause actual results to differ materially from these
expectations, including economic conditions affecting packaging
utilization, changes in raw material costs, currency translation
effects, and legal proceedings. For more extensive information, see
“Risk Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form 10-K,
as may be revised and updated from time to time by our Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K, as filed with the
Securities and Exchange Commission. These reports are available on the
Securities and Exchange Commission’s website at www.sec.gov
or our Investor Relations home page at http://ir.sealedair.com.
Information on Sealed Air’s website is not incorporated into, and does
not form a part of, this press release. Sealed Air does not undertake
any obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated events.
Source: Sealed Air Corporation
Sealed Air Corporation
Investors:
Lori Chaitman, 201-703-4161
or
Media:
Ken
Aurichio, 201-703-4164