ATLANTA, Nov. 10 /PRNewswire-FirstCall/ -- Interface, Inc.
(Nasdaq: IFSIA), a worldwide floorcoverings and fabrics company, today
announced the closing of its public offering of 5,750,000 shares of Class A
Common Stock. Prior to the closing of the offering of 5,000,000 shares of
Class A Common Stock, the underwriters exercised their over-allotment option
to purchase an additional 750,000 shares from the company. All 5,750,000
shares were purchased at the public offering price of $14.65 per share, less
an underwriting discount of $0.8424 per share. After deducting the
underwriting discount and estimated offering expenses, the company estimates
that the net proceeds will be approximately $78.9 million.
Citigroup Global Markets Inc. is the sole book-runner for the offering and
is joint lead manager with Raymond James & Associates, Inc. Stifel, Nicolaus
& Company, Incorporated, SunTrust Capital Markets, Inc. and BB&T Capital
Markets, a division of Scott & Stringfellow, Inc., are co-managers for the
offering. A copy of the prospectus supplement relating to the offering may be
obtained by contacting Citigroup Global Markets Inc., Brooklyn Army Terminal,
140 58th Street, 8th floor, Brooklyn, New York 11220 (telephone:
718-765-6732).
About Interface, Inc.
Interface, Inc. is a recognized leader in the worldwide interiors
industry, offering floorcoverings and fabrics. The company is committed to
the goal of sustainability and doing business in ways that minimize the impact
on the environment while enhancing shareholder value. The company is the
world's largest manufacturer of modular carpet under the InterfaceFLOR(R),
FLOR(TM), Heuga(R) and Bentley Prince Street(R) brands, and, through its
Bentley Prince Street brand, enjoys a leading position in the high quality,
designer-oriented segment of the broadloom carpet market. The company's
InterfaceFabric business is a leading producer of interior fabrics and
upholstery products, which it markets under the Guilford of Maine(R),
Chatham(R) and Terratex(R) brands, and provides specialized automotive textile
solutions.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995:
Except for historical information contained herein, the other matters set
forth in this news release are forward-looking statements. The forward-
looking statements set forth above involve a number of risks and uncertainties
that could cause actual results to differ materially from any such statement,
including risks and uncertainties associated with economic conditions in the
commercial interiors industry as well as the risks and uncertainties discussed
under the heading "Risk Factors" included in the company's prospectus
supplement dated October 27, 2006, filed with the Securities and Exchange
Commission, which discussion is incorporated herein by this reference. The
company assumes no responsibility to update or revise any forward-looking
statement made in this press release and cautions readers not to place undue
reliance on any such forward-looking statements.
SOURCE Interface, Inc.
CONTACT:
Daniel T. Hendrix,
President and Chief Executive Officer,
or
Patrick C. Lynch,
Vice President and Chief Financial Officer,
+1-770-437-6800,
both of Interface, Inc.;
Christine Mohrmann,
or Jim Olecki,
both of Financial
Dynamics,
+1-212-850-5600,
both for Interface, Inc.
Web site: http://www.interfaceinc.com
(IFSIA)