PolyOne Corporation (NYSE: POL), a premier global provider of specialized polymer materials, services and solutions, announced today that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (SEC).
The shelf registration statement, when declared effective by the SEC, will provide PolyOne with the flexibility to offer and sell from time to time in the future, in one or more public offerings, up to $450 million of equity, debt, or other types of securities described in the registration statement, or any combination of such securities.
The proceeds of the securities may be used for general corporate purposes, including acquisitions, capital expenditures and repayment of debt. The specifics of any potential future offering, along with the prices, terms and use of proceeds of any securities offered by the company, will be determined at the time of any applicable offering and will be described in a prospectus supplement at the time of such applicable offering.
Stephen D. Newlin, chairman, president and chief executive officer of PolyOne, said, "We currently do not have any plans to offer or sell our securities under this registration statement in the immediate future. However, we believe that having a shelf registration statement in place is prudent as it provides PolyOne financial flexibility."
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such an offering.
A copy of the prospectus included in the registration statement may be obtained on the SEC's web site at www.sec.gov. In addition, when available, copies of the prospectus, and a prospectus supplement relating to a particular offering, may be obtained by contacting PolyOne Corporation, Attention: General Counsel, 33587 Walker Road, Avon Lake, Ohio 44012.
About PolyOne
PolyOne Corporation, with 2008 revenues of $2.7 billion, is a premier provider of specialized polymer materials, services and solutions. Headquartered outside of Cleveland, Ohio USA, PolyOne has operations around the world. For additional information on PolyOne, visit our Web site at www.polyone.com.
To access PolyOne's news library online, please visit www.polyone.com/news.
SOURCE PolyOne Corporation
http://www.polyone.com
