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Jump to full article: PR Newswire, 2009-11-09
Author: SOURCE Schweitzer-Mauduit International, Inc.
Intro: Schweitzer-Mauduit International, Inc. (NYSE: SWM) ("Schweitzer-Mauduit" or "the company") today announced that it plans to publicly offer 1.8 million shares of its common stock in an underwritten offering. In addition, the company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of shares sold. Goldman, Sachs & Co. is serving as the sole book-running manager for the offering. Co-managers for the offering include SunTrust Robinson Humphrey Inc., Davenport & Company LLC and Oppenheimer & Co. Inc.
The company intends to use the net proceeds from the offering for general corporate purposes, including the company's planned funding of the construction and working capital needs of a new Reconstituted Tobacco Leaf (RTL) facility in the Philippines and a potential equity contribution for an RTL joint venture in China.
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