Lifetime Brands, Inc. (ticker: LCUT, exchange: NASDAQ Global Market (.O))
News Release -
Lifetime Brands, Inc. Announces Closing of Common Stock Offering
WESTBURY, N.Y.--(BUSINESS WIRE)--Nov. 23, 2005--Lifetime Brands,
Inc. (NASDAQ: LCUT) announced today that it has closed the public
offering of 2,875,000 shares of its common stock at a price of $21.50
per share. Of the 2,875,000 shares being offered, the Company sold
1,733,000 shares and certain of the Company's stockholders sold a
total of 1,142,000 shares, which include the exercise in full of the
underwriters' over-allotment option of 375,000 shares. The Company
received approximately $34.6 million in net proceeds from the offering
after deducting the underwriting discount and estimated offering
Citigroup Corporate and Investment Banking acted as the sole
book-runner for the offering and Adams Harkness, Inc. acted as a
co-manager for the offering.
This communication 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 in which the offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of that state. Copies of the final prospectus relating
to the offering may be obtained from Citigroup Corporate and
Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th
Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax: 718-765-6734).
About Lifetime Brands, Inc.
Lifetime is a leading designer, developer and marketer of
kitchenware, tabletop accessories, cutlery and cutting boards,
bakeware, and pantryware and spices, marketing its products under
various trade names, including Pfaltzgraff(R), KitchenAid(R),
Farberware(R), Cuisinart(R), Sabatier(R), Calvin Klein(R) and
Hoffritz(R). Lifetime's products are distributed through most major
retailers in the United States.
CONTACT: Lifetime Brands, Inc.
Robert McNally, 516-683-6000
Lippert/Heilshorn & Assoc.
Harriet Fried, 212-838-3777
SOURCE: Lifetime Brands, Inc.