Issuer:
|
Federal Signal Corporation | |
Title:
|
Common Stock | |
Number of Shares Offered:
|
10,500,000 shares | |
Price to Public:
|
$6.25 per share | |
Over-Allotment Option:
|
1,575,000 shares | |
Underwriting Discount:
|
$0.3125 per share | |
Use of Proceeds:
|
The Company estimates that the net proceeds from the offering, without the exercise of the over-allotment option, will be approximately $61.7 million after deducting underwriting discounts and the Company’s estimated expenses related to the offering. The Company intends to use these net proceeds to repay amounts outstanding under its revolving credit facility. | |
Trade Date:
|
May 7, 2010 | |
Settlement Date:
|
May 12, 2010 | |
Sole-Book Running Manager:
|
Citigroup Global Markets Inc. | |
Co-Managers:
|
BMO Capital Markets Corp. Credit Suisse Securities (USA) LLC HSBC Securities (USA), Inc. Loop Capital Markets, LLC |
|
Listing:
|
The shares of Common Stock are listed on the New York Stock Exchange under the symbol “FSS.” | |
Conflicts of Interest:
|
Affiliates of BMO Capital Markets Corp., Credit Suisse Securities (USA) LLC and HSBC Securities (USA), Inc. are lenders under the Company’s revolving credit facility, and each will receive more than 5% of the net proceeds of this offering, not including underwriting compensation, in connection with the repayment of amounts outstanding under the Company's revolving credit facility. Accordingly, this offering is being conducted in compliance with NASD Rule 2720, as administered by the Financial Industry Regulatory Authority. Pursuant to such rule, the appointment of a qualified independent underwriter is not necessary in connection with this offering, as the offering is of a class of securities having a bona fide public market as contemplated by such rule. In addition, Bank of Montreal, an affiliate of BMO Capital Markets Corp., is the administrative agent under the Company’s revolving credit facility. |