WATERFORD, N.Y.--(BUSINESS WIRE)--MPM Holdings Inc., a leading producer of specialty silicones and silanes and a global leader in fused quartz and specialty ceramics products, today announced that it has commenced an initial public offering of 14,583,333 shares of its common stock. Shares of Momentive’s common stock are being sold by Momentive and certain of its stockholders. Momentive will use the proceeds of the offering to redeem a portion of its 4.69% Second-Priority Senior Secured Notes due 2022, repay outstanding debt of a foreign subsidiary and pay related fees and expenses. Momentive will not receive any of the proceeds from the sale of shares offered by the selling stockholders. The selling stockholders have also granted the underwriters a 30-day option to purchase an additional 2,187,500 shares of common stock. The price range for the initial public offering is currently estimated to be between $23.00 and $25.00 per share. Momentive has been approved to list its common stock on the New York Stock Exchange under the ticker “MPMH.”
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Momentive
Momentive is a global leader in silicones and advanced materials, with a 75 plus year heritage of being first to market with performance applications that support and improve everyday life. Momentive delivers science-based solutions for major industries, by linking its custom technology platforms to allow the creation of unique solutions for customers.
