GrafTech Announces Increased Public Float through Consortium Stock Distribution and Board Resignation
14 Dezembro 2023 - 11:00AM
Business Wire
GrafTech International Ltd. (NYSE: EAF) (“GrafTech” or the
“Company”) today announced that its 25% shareholder, Brookfield
Business Partners LP and its affiliates (together, “Brookfield”),
distributed all 63.8 million of their shares of GrafTech common
stock to a consortium of investors, which includes affiliates of
Brookfield as well as un-affiliated investors.
Following the distribution, Brookfield holds approximately 30.4
million shares or an approximate 12% ownership interest in
GrafTech’s outstanding common stock, increasing the public float of
the Company from approximately 75% to approximately 88%. At this
reduced level of ownership, Denis A. Turcotte, a Brookfield
designated director, has resigned from the Company’s Board of
Directors (the “Board”) effective December 14, 2023.
“On behalf of the Board, I would like to thank Denis for his
valuable contributions and wish him every success in his future
endeavors,” said Henry R. Keizer, Chairman of the Board of
GrafTech. “As we look ahead, the increase in the number of
GrafTech’s freely tradeable common shares will serve to enhance the
liquidity of GrafTech’s common stock. This will position the
Company to expand its investor base as it continues to execute its
long-term strategy.”
About GrafTech
GrafTech International Ltd. is a leading manufacturer of
high-quality graphite electrode products essential to the
production of electric arc furnace steel and other ferrous and
non-ferrous metals. The Company has a competitive portfolio of
low-cost, ultra-high power graphite electrode manufacturing
facilities, including three of the highest capacity facilities in
the world. We are the only large-scale graphite electrode producer
that is substantially vertically integrated into petroleum needle
coke, our key raw material for graphite electrode manufacturing.
This unique position provides us with competitive advantages in
product quality and cost.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231213020046/en/
Michael Dillon 216-676-2000
GrafTech (NYSE:EAF)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
GrafTech (NYSE:EAF)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024