Jarden Corporation, Coleman's parent company, has priced its public offering of 11.5 million shares of common stock at $36.25 per share. Warburg Pincus and its affiliates are selling 7.5 million shares, bringing their ownership to under 10% of Jarden's outstanding common stock. In addition, Jarden will issue 4.0 million shares. The net proceeds will be approximately $138 million.
Jarden intends to use the net proceeds for debt repayment, potential future acquisitions and general corporate purposes. Warburg Pincus and the other potential selling stockholders, including the Chief Executive Officer and Chief Financial Officer and other executive officers and directors of Jarden, have also granted the underwriters of the offering a 30-day option to purchase up to 1,725,000 additional shares of common stock. Jarden will not receive any proceeds from the secondary shares sold by Warburg Pincus and the other selling stockholders. The closing of the offering is expected to occur on November 14, 2006, subject to customary closing conditions.
Lehman Brothers Inc., Citigroup Corporate and Investment Banking and Goldman, Sachs & Co. are serving as joint book running managers for the offering. CIBC World Markets Corp., SunTrust Capital Markets, Inc., and William Blair & Co., L.L.C. are serving as co-managers for the offering.
