LSB files registration to raise $200 M

Oklahoma City-LSB Industries, Inc. said Sept. 16 that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission. The shelf registration statement, when declared effective by the SEC, would give LSB the ability to offer and sell up to $200 million of its securities, consisting of common stock, preferred stock, debt (senior and subordinated), warrants, units, or a combination thereof. After the shelf registration becomes effective, LSB may offer and sell such securities from time to time and through one or more methods of distribution, subject to market conditions and LSB’s capital needs. The terms of any offering under the shelf registration statement would be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering. Jack Golsen, chairman and CEO, stated, “We do not have immediate plans to offer or sell our securities under the registration statement. The board of directors agreed that having a shelf registration in place was prudent given the current market environment, as it provides us greater financial flexibility in the event we identify strategic opportunities that may require additional capital.”