Myers Industries, Inc. (NYSE: MYE) on May 14 announced that it has commenced an underwritten public offering of 3,750,000 shares of its common stock. All of the shares are being offered by Myers. In addition, Myers intends to grant to the underwriters a 30-day option to purchase up to an additional 562,500 shares of its common stock offered in the public offering, on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering.
Myers intends to use the net proceeds from the offering to fund growth of its business, including through selective acquisitions, to repay a portion of its outstanding indebtedness and for other general corporate purposes.
A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission and will be available on the Securities and Exchange Commission’s website located at http://www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: J.P. Morgan Securities by calling at (866) 803-9204, or emailing them at [email protected].