Tecnoglass Inc. (NASDAQ: TGLS) (BVC:TGLSC), the Barranquilla, Colombia based manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries, after announcing record 2018 results and a strong backlog of orders, has just announced that it has commenced an underwritten follow-on public offering of 8,000,000 ordinary shares. In addition, Tecnoglass has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 ordinary shares at the public offering price, less the underwriting discount. All of the ordinary shares to be sold in the proposed offering are to be offered by Tecnoglass. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Tecnoglass intends to use the net proceeds of this offering for investments in growth capital expenditures, including to purchase new equipment, its Saint-Gobain joint venture and for working capital and other general corporate purposes.
Baird and Raymond James are serving as lead joint book-running managers for the proposed offering. B. Riley FBR, Inc. is serving as an additional joint book-running manager for the proposed offering with D.A. Davidson & Co. and Dougherty & Company acting as co-managers.
The securities described above are being offered by Tecnoglass pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission on October 19, 2018 and was declared effective on November 8, 2018. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the ordinary shares offered in the public offering described above will be filed with the SEC.
The preliminary prospectus supplement and the accompanying prospectus related to the offering may be obtained at the SEC’s website located by clicking here. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering may also be obtained from Robert W. Baird & Co. Incorporated, Attn: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, [email protected], telephone: (800) 792-2473; Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or by e-mail to [email protected]; or B. Riley FBR, Inc., Attention: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, VA 22209, [email protected], telephone: (703) 312-9580.