KEMET Corporation Announces Pricing of Secondary Offering by Selling Securityholder
Greenville, South Carolina (December 14, 2010) - KEMET Corporation (NYSE: KEM) (the "Company") today announced the pricing of a secondary offering of 8.7 million shares of its common stock at a price of $11.00 per share. The shares to be offered are subject to issuance upon exercise of a currently outstanding and exercisable warrant (the "Warrant") held by the selling securityholder, K Equity, LLC ("K Equity"), an affiliate of Platinum Equity Capital Partners II, L.P., a portion of which will be sold to and exercised by the underwriters in connection with their sale of the underlying shares.
The underwriters have an option to purchase an additional portion of the Warrant representing an additional 1.3 million shares of underlying common stock of the Company to cover over-allotments, if any. The Company will not receive any proceeds from the transaction. K Equity will retain the portion of the Warrant that is not exercised.
Deutsche Bank Securities, BofA Merrill Lynch and UBS Investment Bank are acting as joint book-running managers, and KeyBanc Capital Markets is acting as co-manager, for the offering.
A registration statement relating to these shares of common stock has been declared effective by the Securities and Exchange Commission. The offering is being made only by means of the written base prospectus and prospectus supplement forming part of the effective registration statement. A copy of the base prospectus and prospectus supplement related to the offering may be obtained by contacting: Deutsche Bank Securities Inc., Attention:
Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, by telephone at (800) 503-4611 or by email at prospectus.cpdg@db.com; BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn:
Prospectus Department or by email at dg.prospectus_requests@baml.com; or UBS Investment Bank, 299 Park Avenue, New York, New York 10171, Attn:
Prospectus Department, or by telephone at (888) 827-7275.
About KEMET
The Company's common stock is listed on the NYSE under the ticker symbol "KEM" (NYSE: KEM). KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world's most complete line of surface mount and through hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics.
Contact:
William M. Lowe, Jr.
Executive Vice President and
Chief Financial Officer
williamlowe@KEMET.com
864-963-6484
