Polypore prices 7.5 mln Follow-On common stock offering at $24 a share - quick facts

Posted on Friday, May 23, 2008 5:22 AM

(RTTNews) - Polypore International, Inc. (PPO) announced it has priced a follow-on public offering of 7.5 million shares of its common stock at $24.00 per share. Out of these, 3.75 million are primary shares and 3.75 million are secondary shares. The selling stockholders have granted the underwriters of the offering an option to purchase up to an additional 1.125 million shares of common stock to cover over-allotments, if any. Proceeds from this offering received by the company will be used to repay outstanding borrowings under Polypore's revolving credit facility and for general corporate purposes. The offering is expected to close on or about May 29, 2008, subject to customary closing conditions. For comments and feedback: contact editorial@rttnews.com