Ampco-Pittsburgh (NYSE: AP) today announced the closing of its previously disclosed rights offering. According to the update, AP delivered up to 5,507,889 shares of its common stock (the “Common Shares”) and 12,339,256 Series A warrants for total gross proceeds of $19,278,854, excluding any proceeds that may be received by the Corporation from the future exercise of the Series A warrants. The rights offering entitled Ampco-Pittsburgh’s rights holders to purchase units consisting of Common Shares and Series A warrants to purchase Common Shares, which expire on August 1, 2025.
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About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania. For more information, visit AmpcoPgh.com.
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