DALIAN, China, July 7 /PRNewswire-Asia/ -- Fushi Copperweld, Inc., (the "Company" or "Fushi") (Nasdaq: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced that it has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (the "SEC"), on July 6, 2009.
The shelf registration statement, when declared effective by the SEC, would allow the Company to offer and sell, from time to time, in one or more offerings, any combination of common stock, preferred stock, warrants, debt securities, or units (collectively, the "Securities") having an offering price not exceeding $100 million, in the aggregate, with the size, price and terms to be determined at the time of each sale. Such sales may be made to or through underwriters, directly to investors or through agents. The shelf registration statement is intended, when it is declared effective, to provide the Company with the flexibility to raise additional capital in the future from the offering of the Securities, subject to market conditions and the Company's capital needs.
The shelf registration statement filed with the SEC has not yet become effective. No securities may be sold, nor may offers to buy be accepted, prior to the effectiveness of the shelf registration statement. Any offer of securities by Fushi will be made solely by means of the prospectus included in the shelf registration and a prospectus supplement containing the terms of the securities to be offered, which will be filed with the SEC and delivered at the time of the offering by Fushi.
The shelf registration statement also includes a separate prospectus for the resale of up to 2,600,000 shares owned by the selling stockholders named therein. Fushi will not receive proceeds from the sales of securities under the resale prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Fushi Copperweld, Inc.
Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co, Ltd., and Copperweld Bimetallics, LLC, is the leading manufacturer and innovator of copper cladded bi-metallic engineered conductor products used in the electrical, telecommunications, transportation, utilities and industrial industries. With extensive design and production capabilities and a long-standing dedication to customer service, Fushi-Copperweld, Inc. is the preferred choice bi-metallic products world-wide. For more information, visit: http://www.fushicopperweld.com .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology such as "will," "believes," "expects" or similar expressions. These forward-looking statements may also include statements related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the SEC on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .
