TCP Prices Its Initial Public Offering
Aurora, Ohio (June 26, 2014) – TCP International Holdings Ltd. (NYSE: TCPI) has announced the pricing of its initial public offering of 7,142,858 common shares at a price to the public of $11.00 per share overnight. All shares are being sold by TCP. In addition, TCP has granted the underwriters a 30-day option to purchase up to an additional 1,071,428 common shares. The shares are expected to begin trading today on the New York Stock Exchange under the symbol “TCPI”. The closing of the offering is expected to occur on July 1, 2014, subject to the satisfaction of customary closing conditions.
Deutsche Bank Securities Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Canaccord Genuity Inc. and Cowen and Company, LLC are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from Deutsche Bank Securities Inc., at 60 Wall Street, New York, New York 10005, Attention: Prospectus Department, by calling (800) 503-4611, or by e-mailing firstname.lastname@example.org; or from Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, or by calling (800) 747-3924, or by e-mailing email@example.com.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on June 25, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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.
TCP is a leading global manufacturer and distributor of energy efficient lighting technologies. TCP’s extensive product offerings include LED and CFL lamps and fixtures, internet-based lighting control solutions and other energy efficient lighting products. TCP has the largest combined number of LED and CFL ENERGY STAR® compliant lighting products. TCP was recently named a 2014 ENERGY STAR® Partner of the Year by the U.S. Environmental Protection Agency. TCP’s products are currently offered through thousands of retail and C&I distributors. Since TCP’s inception, it has sold more than one billion energy efficient lighting products.
Forward Looking Statements
Certain statements in this release may constitute “forward-looking” statements, including with respect to the closing of TCP’s initial public offering. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While TCP believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein. Such forward-looking statements are made only as of the date of this release. TCP expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions or circumstances on which any statement is based.
Chief Financial Officer
Mike Funari or Erica Mannion
Sapphire Investor Relations, LLC