Orchids Paper Products Company Closes Over-Allotment Option
02 Setembro 2009 - 4:30PM
PR Newswire (US)
PRYOR, Okla., Sept. 2 /PRNewswire-FirstCall/ -- Orchids Paper
Products Company (NYSE Amex: TIS) today announced that the Company
closed the sale of an additional 112,500 shares of its common stock
at the public offering price of $18.50 per share. These shares were
issued pursuant to the over-allotment option granted to Stephens
Inc. as underwriter in conjunction with the Company's previously
announced offering of 750,000 shares of common stock completed on
August 26, 2009. The Company received proceeds of approximately
$2.0 million from the sale of the additional 112,500 shares after
deducting the underwriting discount in addition to the $12.8
million from the previously announced sale of 750,000 shares, after
deducting the underwriting discount and estimated expenses. The
Company intends to use the net proceeds of the offering for the
construction of a warehouse, the purchase and installation of a new
converting line, and for general corporate purposes. Stephens Inc.
acted as the sole underwriter for the offering. The final
prospectus supplement related to the offering was filed with the
Securities and Exchange Commission on August 21, 2009. A copy of
the final prospectus supplement may be obtained by contacting
Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201
Attention: Syndicate Department (501-377-2130). This press release
shall not constitute an offer to sell, or a solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
Forward-Looking Statements This release contains forward-looking
statements, including statements related to the offering and the
expected use of the net proceeds, which are based on current
expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially. In some cases, forward-looking statements can be
identified by terminology such as "may," "should," "could,"
"expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative
of such terms or other comparable terminology. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, it cannot guarantee future results,
levels of activity, performance or achievements. These statements
are only predictions. Factors that could materially affect the
Company's actual results, levels of activity, performance or
achievements include, without limitation, those detailed under the
caption "Risk Factors" in the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 2008 as filed with the
Securities and Exchange Commission on March 12, 2009, the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2009
as filed with the Securities and Exchange Commission on August 13,
2009 and the final prospectus supplement as filed with the
Securities and Exchange Commission on August 21, 2009. The
Company's actual results may be materially different from what it
expects. The Company does not undertake any duty to update these
forward-looking statements after the date hereof, even though the
Company's situation may change in the future. All of the
forward-looking statements herein are qualified by these cautionary
statements. About Orchids Paper Products Company Orchids Paper
Products Company is an integrated manufacturer of tissue paper
products serving the private label consumer market. The Company
produces a full line of tissue products, including paper towels,
bathroom tissue and paper napkins. From its operations in Pryor,
Oklahoma, Orchids Paper Products Company uses recycled waste paper
to produce finished tissue products that it provides to retail
chains throughout the central United States. For more information
on the Company and its products, visit the Company's website at
http://www.orchidspaper.com/. DATASOURCE: Orchids Paper Products
Company CONTACT: Keith Schroeder, Chief Financial Officer of
Orchids Paper Products Company, +1-918-824-4605 Web Site:
http://www.orchidspaper.com/
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