Bookrunner Morgan Stanley assists with offer of 22.84 million shares
By Devika Patel
Knoxville, Tenn., May 13 – Noranda Aluminum Holding Corp. priced a $47.39 million secondary offering stock, according to a preliminary prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The selling shareholders will sell 22.84 million common shares at $2.075 apiece. The price per share reflects a 0.24% discount to the May 12 closing share price.
Morgan Stanley is the bookrunner.
Settlement is expected May 15.
The company will not receive any proceeds from the secondary sale.
Noranda is a Franklin, Tenn.-based aluminum products manufacturer.
| Issuer: | Noranda Aluminum Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $47,393,000
|
| Shares: | 22.84 million
|
| Price: | $2.075
|
| Warrants: | No
|
| Bookrunner: | Morgan Stanley
|
| Pricing date: | May 13
|
| Settlement date: | May 15
|
| Stock symbol: | NYSE: NOR
|
| Stock price: | $2.08 at close May 12
|
| Market capitalization: | $358.9 million
|
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