AZZ Inc. Announces Pricing of its Public Offering of Common Stock

Core Viewpoint - AZZ Inc. has announced a public offering of 4,000,000 shares of common stock at a price of $70.00 per share, aiming for gross proceeds of $280 million before expenses [1] Group 1: Offering Details - The offering includes an option for underwriters to purchase an additional 15% of the shares sold within 30 days [1] - The expected closing date for the offering is April 30, 2024, subject to customary conditions [1] - The offering is conducted under a shelf registration statement filed with the SEC, which was declared effective on January 10, 2024 [3] Group 2: Use of Proceeds - AZZ intends to use the net proceeds from the offering to redeem all or a portion of its 6.0% Series A Convertible Preferred Stock and for general corporate purposes [2] Group 3: Management of the Offering - Evercore ISI and Jefferies are serving as joint lead book-running managers for the offering [2] - Additional book-running managers include Baird, Wells Fargo Securities, and Wolfe | Nomura Alliance, with co-managers being B. Riley Securities, Roth Capital Partners, and Sidoti & Company, LLC [2] Group 4: Company Overview - AZZ Inc. is recognized as a leading independent provider of hot-dip galvanizing and coil coating solutions, serving a wide range of end-markets [4] - The company's business segments offer sustainable metal coating solutions that enhance the longevity and appearance of essential infrastructure and products [4]