MIDDLETON — Spectrum Brands Holdings, Inc. announced
Monday the start of an underwritten public offering of
$500 million in shares of its common stock.
According to the announcement, the company expects to
grant the underwriters an option to purchase a maximum
of $75 million in additional shares of Spectrum Brands
Holdings’ common stock.
Spectrum Brands Holdings intends to use the net proceeds
of the offering to fund a portion of its acquisition of
Armored AutoGroup Parent Inc. and to pay a portion of
related costs, fees and expenses. If the acquisition is
not completed, Spectrum Brands Holdings intends to use
the net proceeds from the offering for general corporate
purposes, which may include working capital needs, the
refinancing of existing indebtedness, the expansion of
its business and possible future acquisitions, according
to the announcement.
Spectrum Brands Holdings is a leading supplier of
consumer batteries, residential locksets, residential
builders’ hardware, faucets, shaving and grooming
products, personal care products, small household
appliances, specialty pet supplies, lawn and garden and
home pest control products.