CF International (ICFI) Files 3.1M Common Offering

CF International, Inc. (NASDAQ: ICFI) today announced that it has commenced an underwritten public offering of 3.1 million of its shares of common stock. The Company is also granting to the underwriters a 30-day option to purchase up to an additional 465,000 shares of common stock from the Company to cover over-allotments, if any. All of the shares in the offering are to be sold by the Company. William Blair & Company L.L.C. and Stifel, Nicolaus & Company, Incorporated will serve as joint bookrunners, and Canaccord Adams Inc., Stephens Inc., and BB&T Capital Markets will be co-managers.

The Company intends to use the net proceeds from the offering for future growth, including possible acquisitions. The Company will do this by applying the net proceeds it receives to repayment of outstanding borrowings incurred under its revolving credit facility. Such debt repayment will provide the Company with debt capacity for growth initiatives.