By Laura Lutz
Des Moines, March 13 - Heritage-Crystal Clean, Inc. priced a $13.8 million direct placement of common stock in a 424B4 filing with the Securities and Exchange Commission.
The company plans to sell 1.2 million shares at $11.50 apiece.
William Blair & Co., LLC and Piper Jaffray & Co. will act as placement agents.
The agents have a greenshoe for 287,100 additional shares.
Heritage-Crystal said it will conduct the direct placement at the same time as an initial public offering of 1,914,000 shares at the same price.
Proceeds will be used to repay debt under the company's secured bank credit facility.
Heritage-Crystal is an Elgin, Ill.-based provider of parts cleaning and containerized waste services. The company said its common stock has been approved for listing of the Nasdaq under the symbol "HCCI."
| Issuer: | Heritage-Crystal Clean, Inc.
|
| Issue: | Common stock
|
| Amount: | $13.8 million
|
| Shares: | 1.2 million
|
| Greenshoe: | 287,100
|
| Price: | $11.50
|
| Warrants: | No
|
| Agents: | William Blair & Co., LLC; Piper Jaffray & Co.
|
| Pricing date: | March 11
|
| Stock symbol: | Nasdaq: HCCI
|
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