Houston, Texas based chemical producer Westlake Chemical Corporation announced the pricing of a secondary stock offering of 5.5 million shares of Westlake's common stock for its controlling stockholder, TTWF LP.
The shares were priced at yesterday's closing price, and the transaction is expected to close on May 2, 2006, subject to customary closing conditions. Westlake will not receive any proceeds from the offering.
The underwriters for the offering include JP Morgan, Credit Suisse, and Deutsche Bank Securities. TTWF has granted the underwriters an option to purchase up to an additional 825,000 shares to cover over-allotments, if any.
A prospectus relating to these securities may be obtained from JPMorgan Securities Inc., Prospectus Department, One Chase Manhattan Plaza, Floor 5B, New York, NY 10081, (212) 552-6164 or addressingservices@jpmchase.com.
These documents are being filed with the Securities and Exchange Commission and will be available over the Internet at the SEC's Web site at http://www.sec.gov .
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas.
The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe, windows and fence.
Westlake Chemical Corporation
marketing@alchempro.com
