AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced the closing of its underwritten public offering of 4,600,000 shares of common stock, including the full exercise of the underwriters' option to purchase up to 600,000 additional shares of common stock, at a public offering price per share of $70.00, for gross proceeds of $322,000,000, before deducting the underwriting discount and commissions and other offering expenses payable by AZZ.
Evercore ISI and Jefferies acted as joint lead book-running managers. Baird, Wells Fargo Securities and Wolfe | Nomura Alliance acted as additional book-running managers. B. Riley Securities, Roth Capital Partners and Sidoti & Company, LLC acted as co-managers for the offering.
AZZ intends to use the net proceeds for the redemption of all or a portion of the Company's 6.0% Series A Convertible Preferred Stock.
This offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-276450) filed with the Securities and Exchange Commission (SEC) and declared effective on January 10, 2024. The offering of the shares of common stock has been made by means of a prospectus, including a prospectus supplement, forming a part of the registration statement. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov or may be obtained from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 888-474-0200, or by email at ecm.prospectus@evercore.com; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com.
