RTI International Metals Announces Exercise of $52.5M Over-Allotment for Convertible Senior Notes Offering

RTI International Metals

, today announced the exercise and closing of the full $52.5 million over-allotment option related to its $350 million 1.625% Convertible Senior Notes due 2019 (the “Convertible Notes”), which closed earlier this month. In total, RTI issued $402.5 million aggregate principal amount of the Convertible Notes. Total net proceeds to the Company, after deducting underwriting discounts and estimated offering expenses, was approximately $389.9 million. Barclays Capital Inc. and Citigroup Global Markets Inc. acted as joint book-running managers of the offering. The offering was made only by means of a written prospectus forming a part of the effective registration statement. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. Forward-Looking Statement The statements in this release relating to matters that are not historical facts are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that may involve risks and uncertainties and certain other factors, which may include, among others, the current market demand for these types of securities generally and the securities of RTI specifically, conditions in the financial markets, and customary offering closing conditions. In accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, cautionary statements identifying important factors, but not necessarily all factors, that could cause actual results to differ materially from those set forth in the forward-looking statement have been included in the prospectus for this offering, the Form 10-K of RTI for the year ended December 31, 2012, and in subsequent filings for RTI. Please see RTI's filings with the SEC for certain other risks that could impact the offering or RTI's business. Company Description RTI International Metals, Inc., headquartered in Pittsburgh, specializes in advanced titanium, meeting the requirements of the world's most technologically sophisticated applications in aerospace, defense, propulsion, medical device, energy, industrial, and chemical markets. For over 60 years, RTI has been taking titanium further through advanced manufacturing, engineering, machining, and forming processes. RTI delivers titanium mill products, extruded shapes, form-ready parts, and highly engineered components through our downstream-integrated supply chain. RTI has locations in the United States, Canada, Europe, and Asia.