Not for distribution to U.S. news wire services or dissemination in the United States. HAMILTON, Ontario, May 26, 2021 (GLOBE NEWSWIRE) Stelco Holdings Inc. (“Stelco” or the “Company”) (TSX: STLC) and LG Bedrock Holdings LP (the “Selling Shareholder”) have announced today that BMO Capital Markets (the “Underwriter”) has agreed to buy from the Selling Shareholder on a bought deal basis 5,800,000 common shares of the Company (“Common Shares”), at a price of C$33.00 per Common Share for gross proceeds of C$191,400,000 to the Selling Shareholder (the “Offering”). The Selling Shareholder has granted the Underwriter an option, exercisable at the same price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover the Underwriter’s over-allocation position, if any, and consequent market stabilization. The Offering is expected to close o
Private equity funds sell old economy holdings as market rebounds theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Furniture World News By Nic Ledoux on 1/13/2021
For more than a decade, Steven Sciortino, CPA worked closely with Eclipse International and Bedding Industries of America CEO Stuart Carlitz as one of his most trusted advisors. Today, the company announced that Sciortino would be leaving his partnership at a regional accounting firm and joining the leading sleep products manufacturer as its first chief financial officer and chief operating officer. As a result of this move, Sciortino, 36, also will receive an equity interest in the business and be a key part of future management.
In his new role, Sciortino will oversee the Eclipse International and Bedding Industries of America finance departments, as well as the company’s operations and logistics.
Furniture World News By Nic Ledoux on 1/6/2021
The flagship licensee of Eclipse International, Bedding Industries of America, will open a new 80,000-square-foot manufacturing, showroom and distribution center at 1798 Linden Ave. in Rialto, California. The factory will be called BIA WEST and is scheduled to open April 1
st. It will employ 120 when fully operational and serve retailers in California, Nevada, and part of Arizona.
A multi-million dollar outfitting of the facility will include state-of-the-art manufacturing equipment from Leggett & Platt’s Global Systems Group to showcase the latest in manufacturing innovation and design for the industry.
The plant will manufacture mattresses under Eclipse, Saatva, Eastman House, Natural Dreams Pure Talalay, as well as other brands from the company’s portfolio.