Constellium N.V. announced the commencement of a proposed secondary public offering of 8,345,713 Class A ordinary shares ("ordinary shares") by an affiliate of Rio Tinto Plc (the "Selling Stockholder"). The underwriter will have a 30-day option to purchase up to an additional 1,251,847 ordinary shares from the Selling Stockholder at the public offering price, less the underwriting discount. The Company will not receive any of the proceeds from the offering of the ordinary shares (including any ordinary shares sold pursuant to the underwriter's option to purchase additional ordinary shares). The total number of outstanding ordinary shares will not change as a result of the offering. Goldman, Sachs & Co. is acting as sole book-running manager for the offering. - updated 12/12 - Constellium N.V. (NYSE and NYSE Euronext: CSTM) ("Constellium" or the "Company") announced today the pricing of its previously announced secondary offering of 8,345,713 Class A Ordinary Shares at a price of $19.80 per share. The underwriter of the offering has a 30-day option to purchase up to an additional 1,251,847 Class A Ordinary Shares from an affiliate of Rio Tinto Plc at the public offering price, less the underwriting discount. The offering is expected to close on or about December 16, 2013, subject to customary closing conditions.
Constellium N.V. designs and manufactures a broad range of innovative specialty rolled and extruded aluminum products, serving primarily the aerospace, packaging and automotive end-markets. Co. has a strategic footprint of manufacturing facilities located in the United States, Europe and China. Co.'s business model is to add value by converting aluminum into semi-fabricated products. Co.'s product portfolio commands higher margins as compared to less differentiated, more commoditized fabricated aluminum products, such as common alloy coils, paintstock, foilstock and soft alloys for construction and distribution.
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