AZZ Prices Public Offering Of 4 Mln Shares At $70.00/shr - Quick Facts

(RTTNews) - AZZ Inc. (AZZ), a provider of hot-dip galvanizing and coil coating solutions, said that it priced its underwritten public offering of 4 million shares of common stock at $70.00 per share, for gross proceeds of $280 million, before deducting the underwriting discount and commissions and other offering expenses.

AZZ has granted the underwriters of the offering an option for 30 days to purchase up to an additional 15% of the shares of its common stock sold in the offering.

The offering is expected to close on April 30, 2024.

AZZ noted that it plans to use the net proceeds for the redemption of all or a portion of the company's 6.0% Series A Convertible Preferred Stock, and general corporate purposes.