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Daily News

Goodman Sets Price for Initial Public Offering
Apr 6, 2006
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HVAC manufacturer Goodman Global, Inc. announced the initial public offering of 23,529,411 shares of its common stock at a price of U.S. $18.00 per share.

In the offering, 20,917,647 shares are being sold by Goodman, and 2,611,764 shares are being sold by the selling shareholders, which include an affiliate of Apollo Management, L.P.

In addition, the selling shareholders have granted the underwriters a 30-day over-allotment option to purchase an additional 3,529,411 shares. Goodman intends to use the net proceeds from the sale of its shares to redeem all of its outstanding 9.5 percent Series A Cumulative Senior Redeemable Exchangeable Preferred Stock for approximately $255 million, to redeem approximately $70 million in aggregate principal amount of its Senior Floating Rate Notes due 2012 at a price equal to 102 percent of the principal amount plus accrued and unpaid interest up to June 15, 2006, the redemption date, and for general corporate purposes. Goodman will not receive any of the proceeds from the sale of shares by the selling shareholders.

A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus.

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