HOUSTON, TX—(BUSINESS WIRE)—Houston Wire &
Cable Company (Nasdaq: HWCC), a leading distributor of specialty
wire and cable, today announced the public offering of 8.5
million shares of common stock at a price of $13.00 per share.
In the offering, the Company is selling 4.25 million shares
and selling stockholders of the Company are selling 4.25 million
shares. In addition, certain selling stockholders have granted
the underwriters a 30-day option to purchase up to an additional
1,275,000 shares of common stock to cover over-allotments,
if any.
The Company will use the net proceeds from
this offering to repay debt. The Company will not receive
any of the proceeds from the sale of shares by the selling
stockholders.
William Blair & Company, L.L.C. is acting
as sole book-running manager and co-lead manager of the offering,
Robert W. Baird & Co. Incorporated is also acting as co-lead
manager, and BB&T Capital Markets is acting as co-manager.
The shares will begin trading on the Nasdaq National Market
under the symbol “HWCC” on June 15, 2006.
The common stock offering may be made only
by means of prospectus, copies of which may be obtained by
contacting:
William Blair & Company, L.L.C.
Prospectus Department
222 West Adams
Chicago, IL 60606
Telephone: 800-621-0687
Robert W. Baird & Co. Incorporated
Syndicate Department
777 East Wisconsin Avenue, 25th Fl.
Milwaukee, WI 53202
Telephone: 414-765-3632
BB&T Capital Markets
Syndicate Department
909 E. Main Street
Richmond, VA 23219
Telephone: 804-780-3283
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A registration statement relating to these
securities has been declared effective by the Securities and
Exchange Commission. 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.
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