Limbach Holdings, Inc (LMB: null) | Limbach Holdings Announces Pricing of Public Offering of Common Stock

OTC

Limbach Holdings Announces Pricing of Public Offering of Common Stock

Dec 15, 2016

OTC Disclosure News Service

Limbach Holdings, Inc. (NASDAQ:LMB) (“Limbach” or the “Company”) today
announced the pricing of its underwritten public offering of 1,626,593
shares of common stock of the Company at a price to the public of $13.50
per share for gross proceeds of $21,959,006. Of the 1,626,593 shares
being sold, the Company is selling 1,251,593 shares and a selling
stockholder is selling 375,000 shares. The net proceeds to the Company
from the sale of the shares, after deducting underwriting discounts and
other estimated offering expenses payable by the Company, will be
approximately $15,500,000. In addition, Limbach has granted the
underwriters a 30-day option to purchase from the Company up to 243,989
additional shares of common stock at the public offering price to cover
over-allotments, if any.

Limbach plans to use the net proceeds from the offering to repay all
amounts outstanding under its subordinated debt with the remainder to be
used for general corporate purposes, including, without limitation,
working capital and capital expenditures.

D.A. Davidson Co. is acting as the book-running manager for the
offering. Craig-Hallum Capital Group LLC. is acting as co-manager for
the offering.

The shares are being offered pursuant to a registration statement on
Form S-1 (File No. 333-214838) that was declared effective by the
Securities and Exchange Commission (SEC) on December 15, 2016. A
preliminary prospectus related to the offering was filed with the SEC on
December 7, 2016. The securities may be offered only by means of the
prospectus related to this offering, copies of which may be obtained,
when available, from D.A. Davidson Co., 8 Third Street North, Great
Falls, MT 59401, telephone: (800) 332-5915. An electronic copy of the
prospectus relating to the offering will also be available on the
website of the SEC at http://www.sec.gov/.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.

About Limbach

Limbach Holdings, Inc., with estimated revenues of approximately $400
million in 2016, is an integrated building systems provider, managing
all components of mechanical, electrical, plumbing and control systems,
from system design and construction through performance and maintenance.
The Company engineers, constructs and services the mechanical, plumbing,
air conditioning, heating, building automation, electrical and control
systems in both new and existing buildings. Customers include building
owners in the private, not-for-profit and public/government sectors.
With headquarters in Pittsburgh, PA., Limbach operates from 10
strategically located business units throughout the United States,
including Western Pennsylvania (Pittsburgh), Eastern Pennsylvania
(Warrington, PA), New Jersey (South Brunswick), New England (Wilmington,
MA), Ohio (Columbus and Athens, OH), Michigan (Pontiac and Lansing, MI),
Southern California (Garden Grove, CA), and Mid-Atlantic (Laurel, MD).
Our design engineering and innovation center, Limbach Engineering
Design Services, is based in Orlando, Florida. Harper Building Systems,
a Limbach Holdings, Inc. company, operates throughout Florida with
offices in Tampa and Lake Mary, north of Orlando. Our approximately
1,400 employees strive to be the customer’s 1st Choice in terms of the
services provided, vertical markets and geographies served. Our
commitment to safety, advanced technology, human development and
reliable execution has enabled Limbach to attract and retain the
industry’s top leadership talent, skilled craftspeople and professional
management staff.

Forward-Looking Statements

We make forward-looking statements in this press release within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to expectations or forecasts for
future events, including, without limitation, the closing of the
Company’s underwritten public offering and the receipt and application
of the proceeds from such public offering. These statements may be
preceded by, followed by or include the words “may,” “might,” “will,”
“will likely result,” “should,” “estimate,” “plan,” “project,”
“forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,”
“continue,” “target” or similar expressions. These forward-looking
statements are based on information available to us as of the date they
were made, and involve a number of risks and uncertainties which may
cause them to turn out to be wrong. Accordingly, forward-looking
statements should not be relied upon as representing our views as of any
subsequent date, and we do not undertake any obligation to update
forward-looking statements to reflect events or circumstances after the
date they were made, whether as a result of new information, future
events or otherwise, except as may be required under applicable
securities laws. As a result of a number of known and unknown risks and
uncertainties, our actual results or performance may be materially
different from those expressed or implied by these forward-looking
statements. Please refer to our registration statement on Form S-1 filed
on November 30, 2016, as amended, and in particular any discussion of
risk factors or forward-looking statements therein, which is available
on the SEC’s website (www.sec.gov),
for a full discussion of the risks and other factors that may impact any
forward-looking statements in this press release.

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