Colfax Announces Secondary Offering of 6,544,522 Shares of Common Stock
Colfax Corporation (NYSE: CFX) announced an underwritten secondary offering of 6,544,522 shares of its common stock by certain stockholders. The company will not receive any proceeds from this offering, as all net proceeds will go to the selling stockholders. Morgan Stanley is the sole book-running manager for the offering. This follows a shelf registration statement filed with the SEC, which became effective in February 2021. The offering materials will be available on the SEC website and from Morgan Stanley.
- The offering allows stockholders to capitalize on their investment.
- Morgan Stanley's involvement may enhance the offering's credibility.
- Colfax will not receive any proceeds from the stock offering, indicating potential liquidity concerns.
WILMINGTON, DE, July 28, 2021 (GLOBE NEWSWIRE) -- Colfax Corporation (“Colfax” or the “Company”) (NYSE: CFX), a leading diversified technology company, announced today that certain of its stockholders (the “Selling Stockholders”) have commenced an underwritten secondary offering of 6,544,522 shares of the Company’s common stock.
The Selling Stockholders will receive all of the net proceeds from the offering. The Company is not selling any shares of common stock in the offering and will not receive any proceeds from the offering.
Morgan Stanley is acting as sole book-running manager for the offering.
The proposed offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by Colfax with the Securities and Exchange Commission (the “SEC”) and was automatically effective upon filing on February 18, 2021. The proposed offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Colfax Corporation
Colfax Corporation is a leading diversified technology company that provides specialty medical technologies and fabrication technology products and services to customers around the world, principally under the DJO and ESAB brands. Colfax believes that its brands are among the most highly recognized in each of the markets that it serves. The Company uses its Colfax Business System (“CBS”), a comprehensive set of tools, processes and values, to create superior value for customers, shareholders and associates. Colfax’s common stock is traded on the NYSE under the ticker “CFX.”
CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements concerning the proposed offering and Colfax’s plans, objectives, expectations and intentions and other statements that are not historical or current fact. Forward-looking statements are based on Colfax’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Colfax’s results to differ materially from current expectations include, but are not limited to, risks related to the impact of the COVID-19 global pandemic, including the rise, prevalence and severity of variants of the virus, actions by governments, businesses and individuals in response to the situation, such as the scope and duration of the outbreak, the nature and effectiveness of government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions, the impact on creditworthiness and financial viability of customers, and other impacts on Colfax’s business and ability to execute business continuity plans, and the other factors detailed in Colfax’s reports filed with the SEC, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption “Risk Factors,” as well as the other risks discussed in Colfax’s filings with the SEC. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. Colfax disclaims any duty to update the information herein.
Contact:
Mike Macek
Vice President, Finance
Colfax Corporation
+1-302-252-9129
investorrelations@colfaxcorp.com
FAQ
What is the purpose of Colfax Corporation's secondary stock offering on July 28, 2021?
Who is managing the secondary offering of Colfax Corporation's stock?
Will Colfax Corporation receive any funds from the stock offering?
When was the shelf registration statement for Colfax Corporation filed?
How many shares are being offered in the Colfax Corporation secondary offering?
