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Shiloh Industries, Inc. Announces Pricing of Common Stock Offering

VALLEY CITY, Ohio, July 13, 2017 (GLOBE NEWSWIRE) -- Shiloh Industries, Inc.(NASDAQ:SHLO), (the "Company") announced today the pricing of its previously announced underwritten public offering of 5.0 million newly issued shares of its common stock at a public offering price of $8.25 per share. In connection with the offering, the Company and MTD Products Inc.Master Employment Benefit Trust (a pension trust affiliated with MTD Products Inc.), a shareholder of the Company (the "Selling Stockholder"), granted the underwriters a 30-day option to purchase up to 750,000 shares of the Company's common stock. If the underwriters purchase 500,000 or fewer shares of the Company's common stock pursuant to their option, all such shares will be purchased from the Selling Stockholder. Any shares purchased by the underwriters pursuant to their option in excess of 500,000 will be purchased from the Company. The offering is expected to close on or about July 19, 2017, subject to customary closing conditions.

The Company intends to use the net proceeds of the offering to repay borrowings under its revolving credit facility. J.P. Morgan, BofA Merrill Lynch and BMO Capital Markets are acting as joint book-running managers. BBVA, Huntington Capital Markets, CIBC Capital Markets and Ramirez & Co., Inc. are acting as co-managers. The Company will not receive any proceeds from any sale of shares by the Selling Stockholder.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on March 24, 2017. Any offering of the securities covered under the registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. Copies of the prospectus and preliminary prospectus supplement for this offering may be obtained by contacting J.P. Morgan Securities LLC, Attention.: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, 1-866-803-9204; BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, dg.prospectus_requests@baml.com; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, bmoprospectus@bmo.com, 1-800-414-3627.

This Press Release shall not constitute an offer to sell or the solicitation of...


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