Valley National Gases (AMEX:VLG)
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From May 2019 to May 2024
Valley National Gases Announces Filing of Registration Statement
for Offering of 2,000,000 Shares
WASHINGTON, Pa., May 12 /PRNewswire-FirstCall/ -- Valley National Gases
Incorporated (AMEX:VLG) announced today that it has filed a registration
statement with the SEC relating to a proposed offering of two million shares of
its common stock, plus up to an additional 300,000 shares to cover over-
allotments. Mr. Gary E. West, Valley's Chairman, will offer 1.6 million shares
and the Company will offer 400,000 shares plus any of the 300,000 shares
purchased if the over-allotment option is exercised. Mr. West is disposing of
only a portion of the approximately 7 million shares that he holds. There are
currently approximately 9.6 million shares issued and outstanding.
Proceeds from the shares offered by the Company will be used to partially fund
its business acquisition efforts. The offering will be led by BB&T Capital
Markets with Robert W. Baird & Co. serving as co-manager.
Although a registration statement relating to this offering has been filed with
the SEC, it has not yet become effective. Mr. West's shares and the newly
issued company common stock may not be sold, nor may offers to buy the common
stock be accepted, prior to the time the registration statement becomes
effective. 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 the common stock
in any state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state.
When available, copies of the preliminary prospectus relating to the offering
may be obtained by written request directed to BB&T Capital Markets, P. O. Box
1575, Richmond, Virginia 23218.
Valley National Gases, with headquarters in Washington, Pennsylvania, is a
leading packager and distributor of industrial, medical and specialty gases,
welding equipment and supplies, propane and fire protection equipment. Valley
National Gases operates sixty three locations in eleven states, with eight
production and distribution centers in the eastern United States.
DATASOURCE: Valley National Gases Incorporated
CONTACT: James P. Hart of Valley National Gases, +1-724-228-3000,
Web site: http://www.vngas.com/