Harman (HAR) Commences 9M Share Public Offering

Harman International Industries, Incorporated (NYSE: HAR) today announced that it has commenced an underwritten public offering of 9,000,000 shares of its common stock. The offering includes a 30-day option for the underwriters to purchase up to 1,350,000 additional shares to cover overallotments, if any. Harman International is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933.

Harman International intends to use the proceeds from the offering to improve its liquidity and to reduce indebtedness under its revolving credit facility, as well as for general corporate purposes, including potential future business acquisitions.

J.P. Morgan Securities Inc. is the sole book-running manager for the offering.