NILES, Ill.--(BUSINESS WIRE)--
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced
that it has filed a universal shelf registration statement with the
Securities and Exchange Commission to allow the Company to potentially
offer an indeterminate principal amount and number of securities in the
future with a proposed maximum aggregate offering price of up to
$65,000,000. The shelf registration statement is intended to provide the
Company with flexibility to access the public capital markets to respond
to future financing and business opportunities.
If and when the shelf registration statement is declared effective by
the Securities and Exchange Commission, the Company will have the
ability to publicly offer and sell from time to time debt securities,
common stock, warrants and other securities or any combination of such
securities. The Company may periodically offer one or more of these
securities in amounts, at prices and on terms announced if and when the
securities are ever offered. The specifics of any potential future
offerings, along with the use of proceeds of any such securities offered
by the Company, will be described in detail in a prospectus supplement
at the time of any such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global
leader in pre-insulated piping and leak detection systems for oil and
gas gathering, district heating and cooling, and other applications. It
uses its extensive engineering and fabrication expertise to develop
piping solutions that solve complex challenges regarding the safe and
efficient transportation of many types of liquids. In total, the Company
has operations at seven locations in five countries.
Forward-Looking Statements
Certain statements and other information contained in this press release
that can be identified by the use of forward-looking terminology
constitute “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (“Exchange Act”), and are
subject to the safe harbors created thereby, including, without
limitation, statements regarding the expected future performance and
operations of the Company. These statements should be considered as
subject to the many risks and uncertainties that exist in the Company’s
operations and business environment. Such risks and uncertainties
include, but are not limited to, the following: (i) the Company’s
ability to effectively execute its strategic plan and achieve
profitability and positive cash flows; (ii) the impact of global
economic weakness and volatility; (iii) fluctuations in steel prices and
the Company’s ability to offset increases in steel prices through price
increases in its products; (iv) the timing of orders for the Company’s
products; (v) decreases in United States government spending on projects
using the Company’s products, and challenges to the Company’s
non-government customers’ liquidity and access to capital funds;
(vi) the Company’s ability to successfully negotiate progress-billing
arrangements for its large contracts; (vii) fluctuations in crude oil
and natural gas prices; (viii) risks and uncertainties related to the
Company’s international business operations; (ix) the Company’s ability
to repay its debt and renew expiring international credit facilities;
(x) aggressive pricing by existing competitors and the entrance of new
competitors in the markets in which the Company operates; (xi) the
Company’s ability to purchase raw materials at favorable prices and to
maintain beneficial relationships with its suppliers; (xii) the
Company’s ability to manufacture products free of latent defects and to
recover from suppliers who may provide defective materials to the
Company; (xiii) reductions or cancellations of orders included in the
Company’s backlog; (xiv) the Company’s ability to attract and retain
senior management and key personnel; (xv) the Company’s ability to
achieve the expected benefits of its growth initiatives; (xvi) the
Company’s ability to interpret changes in tax regulations and
legislation; (xvii) reversals of previously recorded revenue and profits
resulting from inaccurate estimates made in connection with the
Company’s percentage-of-completion revenue recognition; (xviii) the
Company’s failure to establish and maintain effective internal control
over financial reporting; and (xix) the impact of cybersecurity threats
on the Company’s information technology systems. Shareholders, potential
investors and other readers are urged to consider these factors
carefully in evaluating the forward-looking statements and are cautioned
not to place undue reliance on such forward-looking statements. The
forward-looking statements made herein are made only as of the date of
this press release and we undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More detailed information about factors that
may affect the Company’s performance may be found in the Company’s
filings with the Securities and Exchange Commission, which are available
at https://www.sec.gov and
under the Investor Center section of the Company’s website (http://investors.permapipe.com).
View source version on businesswire.com: https://www.businesswire.com/news/home/20190416005096/en/
David Mansfield, President and CEO
Perma-PipeInvestor
Relations
847.929.1200
investor@permapipe.com
Source: Perma-Pipe International Holdings, Inc.