DXP Enterprises, Inc. (NASDAQ: DXPE) today announced the
commencement of a primary public offering of 2,700,000 shares of its
common stock. In connection with the offering, DXP intends to grant the
underwriters a 30-day option to purchase an additional 405,000 shares of
its common stock.
Stephens Inc. is serving as the sole book-running manager for the
offering and William Blair & Company, L.L.C. and KeyBanc Capital Markets
Inc. are serving as co-managers for the offering.
DXP intends to use the net proceeds from this offering to pay down
outstanding borrowings under its credit facility. The consummation of
the offering is subject to market conditions.
This press release does not constitute an offer to sell or the
solicitation of offers to buy any securities of DXP being offered, and
shall not constitute an offer, solicitation or sale of any security in
any state or 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 jurisdiction.
This offering is being made pursuant to an effective shelf registration
statement on Form S-3 previously filed by the Company with the
Securities and Exchange Commission (the “SEC”). Before investing,
investors should read the prospectus in that registration statement and
the related prospectus supplement to be filed with the SEC for more
complete information about the Company and the offering. Copies of the
prospectus supplement and the accompanying prospectus will be available
by visiting the SEC’s website at www.sec.gov
or from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201,
Attn: Prospectus Department (1-800-643-9691).
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that
adds value and total cost savings solutions to industrial customers
throughout the United States, Canada, Mexico and Dubai. DXP provides
innovative pumping solutions, supply chain services and maintenance,
repair, operating and production ("MROP") services that emphasize and
utilize DXP’s vast product knowledge and technical expertise in rotating
equipment, bearings, power transmission, metal working, industrial
supplies and safety products and services. DXP's breadth of MROP
products and service solutions allows DXP to be flexible and
customer-driven, creating competitive advantages for our customers.
DXP’s business segments include Service Centers, Innovative Pumping
Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a
“safe-harbor” for forward-looking statements. Certain information
included in this press release (as well as information included in oral
statements or other written statements made by or to be made by the
Company) contains statements that are forward-looking. Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future; and
accordingly, such results may differ from those expressed in any
forward-looking statement made by or on behalf of the Company. These
risks and uncertainties include, but are not limited to; ability to
obtain needed capital, dependence on existing management, leverage and
debt service, domestic or global economic conditions, and changes in
customer preferences and attitudes. In some cases, you can identify
forward-looking statements by terminology such as, but not limited to,
“may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or
the negative of such terms or other comparable terminology. For more
information, review the Company’s filings with the Securities and
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DXP Enterprises, Inc.
Mac McConnell, 713-996-4700
Vice President, Finance & CFO
Source: DXP Enterprises, Inc.