US Ecology, Inc. (the "Company") (NASDAQ: ECOL) today announced that it has commenced an underwritten public offering of up to 2,600,000 shares of its common stock, which number of shares would represent approximately $100,000,000 of proceeds to the Company based on the Company's closing stock price of $38.47 on November 27, 2013, plus an over-allotment option of up to 15% thereof. The joint book-running managers for this offering are Wells Fargo Securities, LLC ("Wells Fargo Securities") and Credit Suisse Securities (USA) LLC ("Credit Suisse"). - updated 12/5 - US Ecology, Inc. (the "Company") (NASDAQ: ECOL) today announced that it has priced an underwritten public offering of 2,600,000 shares of its common stock at $34.00 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 390,000 shares of its common stock. The Company estimates that the net proceeds from this offering, after the underwriting discount and estimated offering expenses payable by the Company, will be approximately $83.9 million or approximately $96.5 million if the underwriters' option to purchase additional shares is exercised in full. The offering is expected to close on December 10, 2013.
US Ecology provides radioactive, hazardous, polychlorinated biphenyls and non-hazardous industrial waste management and recycling services to commercial and government entities. Co. operates two segments: Operating Disposal Facilities, which accepts hazardous and non-hazardous waste, low-activity radioactive material and low-level radioactive waste and includes its Resource Conservation and Recovery Act of 1976 permitted waste treatment and disposal facilities, and its Atomic Energy Act of 1954 permitted disposal facility; and Non-Operating Disposal Facilities, which includes its former disposal, processing, and deep-well injection facilities in Sheffield, IL; Bruneau, ID; and Winona, TX.
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