IPSCO TUBULARS INC. POSTPONES INITIAL PUBLIC OFFERING DUE TO ADVERSE MARKET CONDITIONS
Houston, Texas – February 8, 2018 – IPSCO Tubulars Inc. (“IPSCO”) today announced that it has decided to postpone its proposed initial public offering of its shares of common stock due to adverse market conditions.
“While we received significant interest from potential investors, the continued market and economic volatility are not optimal conditions for an initial public offering,” said Piotr Galitzine, Chairman of the Board of Directors and Chief Executive Officer of IPSCO. “As a company, we’ve consistently made decisions in the best interests of our stockholders, employees and customers and we will continue to do so.”
This release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that do not relate to historical matters identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of the prospectus included in the registration statement on Form S-1, in the form last filed with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
About IPSCO Tubulars Inc.
IPSCO Tubulars Inc. is a producer and supplier of seamless and welded oil country tubular goods and other pipe products, with headquarters in Houston, Texas and manufacturing facilities located in Texas, Pennsylvania, Ohio, Kentucky, Arkansas, Oklahoma, Iowa, Nebraska and Alberta, Canada.
Ed Trissel / Alyssa Cass / Leigh Parrish
Joele Frank, Wilkinson Brimmer Katcher
IPSCO Tubulars, Inc.