Zep Files Universal Shelf Registration Statement to Replace Prior Registration
Zep Inc. (NYSE: ZEP), a leading producer and marketer of a wide range of cleaning and maintenance solutions, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) to replace the previous shelf registration statement which was declared effective on January 22, 2010. Zep Inc. replaced the previous shelf registration because the SEC's rules do not permit the use of a shelf registration statement more than three years after its effective date.
When the shelf registration is declared effective by the SEC, the shelf registration statement will allow Zep to raise up to an aggregate of $300 million through the sale of equity, debt, and certain other types of securities described in the registration statement, through one or more future public offerings, from time to time in the future.
Specific terms and share prices of any future offerings by Zep, under this registration statement will be established at the time of any such offering, and will be described in a prospectus supplement that Zep will file with the SEC.
Pursuant to the shelf registration statement filed with the SEC, the net proceeds from the sale of any securities to be registered thereunder will be used for general corporate purposes, which may include funding capital expenditures, pursuing growth initiatives, whether through acquisitions, joint ventures or otherwise, repaying or refinancing indebtedness or other obligations, and financing working capital.
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