Hillman Group Capital Trust Announces Cash Distribution and Redemption of Trust Preferred Securities

Rhea-AI Summary

Hillman has announced a cash distribution of $0.241666667 per Trust Preferred Security (NYSE-Amex: HLM-P) for July, payable on August 2, 2021. Additionally, the Company will redeem its outstanding 11.6% Junior Subordinated Debentures and Trust Preferred Securities on August 12, 2021, as part of a merger process. The total redemption amount will be $25.09666667 per Trust Preferred Security, affecting holders of record as of that date. The last trading day for these securities on the NYSE will also be August 12, 2021.

Positive

• Declared cash distribution of $0.241666667 per Trust Preferred Security.
• Total redemption value of $25.09666667 per Trust Preferred Security indicates strong liquidity.

Negative

• Redeeming securities may indicate potential cash flow issues post-merger.
• Last trading day for Trust Preferred Securities is August 12, 2021, potentially affecting investor confidence.

CINCINNATI, July 13, 2021 (GLOBE NEWSWIRE) -- The Hillman Companies, Inc. (“Hillman” or the “Company”) announced today that a cash distribution has been declared by Hillman Group Capital Trust for the month of July in the amount of $0.241666667 for each Trust Preferred Security (NYSE-Amex: HLM_P). The distribution will be payable August 2, 2021 to holders of record as of July 23, 2021.

On July 13, 2021, in anticipation of the merger contemplated by the Agreement and Plan of Merger, dated as of January 24, 2021, by and among Landcadia Holdings III, Inc. (“Landcadia”), Helios Sun Merger Sub, Inc. (“Merger Sub”), HMAN Group Holdings Inc. (“Hillman Holdco”) and CCMP Sellers’ Representative, LLC, solely in its capacity as representative of the stockholders of Hillman Holdco (the “Merger”), Hillman delivered a notice of redemption for all of its outstanding 11.6% Junior Subordinated Debentures due 2027 (the “Debentures”) on August 12, 2021 (the “Redemption Date”) and the Hillman Group Capital Trust delivered a notice of redemption for all of its issued and outstanding shares of Trust Preferred Securities at a redemption price in cash of $25 per Trust Preferred Security, plus an amount equal to the accrued and unpaid distributions thereon to the Redemption Date. The total amount payable upon redemption will be $25.09666667 per Trust Preferred Security and will be payable August 12, 2021 to holders of record as of August 12, 2021. Hillman is redeeming the Debentures and the Trust Preferred Securities in connection with the consummation of the Merger and such securities will cease to be outstanding as of August 12, 2021. The last day of trading for the Trust Preferred Securities on the New York Stock Exchange will be August 12, 2021.

About Hillman
Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers. Leveraging a world-class distribution and sales network, Hillman delivers a “small business” experience with “big business” efficiency. For more information on Hillman, visit www.hillmangroup.com.

Contacts

Investor Relations
Rodny Nacier / Brad Cray
IR@hillmangroup.com
(513) 826-5495

Public Relations
Phil Denning / Doug Donsky
media@hillmangroup.com

FAQ

What is the cash distribution amount declared by Hillman for July 2021?

Hillman announced a cash distribution of $0.241666667 per Trust Preferred Security for July 2021.

When is the payment date for the cash distribution of HLM-P?

The payment date for the cash distribution is August 2, 2021.

What is the redemption price for Hillman's Trust Preferred Securities?

The redemption price for the Trust Preferred Securities is $25.09666667.

What is the last day of trading for HLM-P securities?

The last day of trading for Hillman's Trust Preferred Securities (HLM-P) will be August 12, 2021.

Why is Hillman redeeming its Trust Preferred Securities?

Hillman is redeeming its Trust Preferred Securities in connection with a merger process.