News Release
ArvinMeritor Announces Pricing and Increased Size of Common Stock Offering
TROY, Mich., Feb 25, 2010 /PRNewswire via COMTEX/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that it priced an underwritten public offering of 17,350,000 shares of common stock, par value $1 per share, at a price of $10.50 per share. The size of the offering was increased from the previously announced 15,000,000 shares. In connection with this offering, ArvinMeritor has granted the underwriters an over-allotment option to purchase up to 2,602,500 additional shares of its common stock. The offering is expected to close on March 3, 2010, subject to customary closing conditions.

 

ArvinMeritor intends to use the net proceeds from the offering to repay amounts outstanding under its revolving secured credit facility and its U.S. accounts receivable securitization program and for general corporate purposes.

J.P. Morgan Securities Inc., Citi and UBS Investment Bank are acting as joint book-running managers for the offering.

This press release is not an offer to sell and is not soliciting an offer to buy any of the securities, nor shall there be any offer or sale of the securities in any jurisdiction where the offer or sale is not permitted. The offering of securities is being made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from:


    J.P. Morgan Securities Inc.
    Attn:  Broadridge Financial Solutions
    1155 Long Island Avenue
    Edgewood, New York 11717
    Telephone:  1-866-803-9204

    Citi
    Brooklyn Army Terminal
    140 58th Street, 8th Floor
    Brooklyn, New York 11220
    Telephone:  1-877-858-5407

    UBS Investment Bank
    Attn:  Prospectus Department
    299 Park Avenue
    New York, New York 10171
    Telephone:  1-888-827-7275


ArvinMeritor, Inc. is a global supplier of a broad range of integrated systems, modules and components to original equipment manufacturers and the aftermarket for the transportation and industrial sectors. The company serves commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets, and light vehicle manufacturers. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM.

Forward-Looking Statements

This press release contains statements relating to future results of the company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "estimate," "should," "are likely to be," "will" and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in filings of the company with the SEC. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

SOURCE ArvinMeritor, Inc.