MAUMEE, Ohio, June 29 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) (the "Company") today announced that it has filed a
registration statement with the Securities and Exchange Commission relating
to a proposed public offering of 2.28 million shares of its common stock,
of which 2 million shares are proposed to be sold by the Company and
280,000 shares are proposed to be sold by certain selling shareholders
named in the prospectus.
The underwriters will have the option to purchase up to an additional
342,000 shares of common stock from the Company to cover over-allotments,
if any. The Company will not receive any proceeds from the sale of the
shares by the selling shareholders. The Company intends to use net proceeds
received by it from the offering for investments in the ethanol industry,
including in additional plants, as well as investments in additional
railcar assets and for general corporate purposes.
BB&T Capital Markets and Piper Jaffray & Co. will serve as joint book-
running managers of the offering. Stephens Inc. and Stifel, Nicolaus &
Company will serve as co-managers.
When available, a copy of the prospectus relating to this offering may
be obtained by contacting BB&T Capital Markets, Attention: Liz Smith,
Syndicate, 909 E. Main Street, Richmond, VA 23219, Telephone (804)
780-3283; or by contacting Piper Jaffray & Co., Attention: Equity Capital
Markets, 800 Nicollet Mall, Minneapolis, MN 55402, Telephone (877)
371-5212.
A registration statement on Form S-3 relating to these securities has
been filed with the Securities and Exchange Commission but has not yet
become effective. The securities may not be sold nor may offers to buy be
accepted prior to the time the Registration Statement becomes effective.
This announcement shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the
grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as
in railcar leasing and repair, turf products production, and general
merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now
has operations in seven U.S. states plus rail leasing interests in Canada
and Mexico. For more, visit The Andersons online at
http://www.andersonsinc.com.
As of the close of business on June 29, 2006, there are approximately
15.2 million shares of the Company's common stock outstanding as a result
of a two- for-one stock split that became effective on June 28, 2006.
This release contains forward-looking statements. These statements
involve risks and uncertainties that could cause actual results to differ
materially. Without limitation, these risks include the risk that the
offering discussed herein may not occur, economic, weather and regulatory
conditions, competition, and the risk factors set forth from time to time
in the Company's filings with the Securities and Exchange Commission,
including the registration statement relating to the offering. Although the
Company believes that the assumptions upon which the information contained
herein and the related forward-looking statements are based are reasonable,
it can give no assurance that these assumptions will prove to be correct.
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com/
CONTACT:
Gary L. Smith, VP, Finance and Treasurer of
The Andersons, Inc., +1-419-891-6417
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