Ducommun Announces Pricing of Public Offering of Common Stock

SANTA ANA, Calif, May 15, 2023 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE:DCO) (“Ducommun” or the “Company”) today announced the pricing of its public offering of 2,000,000 shares of common stock (the “Offering”) at $40.00 per share for net proceeds of approximately $74.4 million, after giving effect to the underwriting discount and commission but before estimated expenses payable by the Company. Ducommun has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of its common stock. The closing of the Offering is expected to occur on May 18, 2023, subject to the satisfaction of customary closing conditions.

Ducommun intends to use the net proceeds from the Offering to repay indebtedness under its revolving credit facility that was used to finance its acquisition of BLR Aerospace L.L.C.

Goldman Sachs & Co. LLC, Citigroup, RBC Capital Markets, LLC and B. Riley Securities are acting as joint book-running managers and as representatives of the underwriters for the Offering.

The securities described above are being offered by Ducommun pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on November 17, 2022. A preliminary prospectus supplement and the accompanying prospectus relating to the Offering was filed by Ducommun with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement and the accompanying prospectus relating to the Offering will be filed by Ducommun with the SEC. The Offering may only be made by means of a prospectus, including a prospectus supplement, that forms part of the registration statement referred to above. Copies of the prospectus supplement and the accompanying prospectus relating to the Offering, when available, may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (866) 471-2526, facsimile: 212-902-9316, email: [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at (877) 822-4089 or by email at [email protected]; or B. Riley Securities by telephone at (703) 312-9580 or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

About Ducommun Incorporated

Ducommun Incorporated delivers value-added innovative products and manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the Company specializes in two core areas—Electronic Systems and Structural Systems—to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications.

Forward Looking Statements

This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, statements relating to the timing of the closing of the Offering and the use of proceeds from the Offering. The Company generally uses the words “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “continue,” and similar expressions in this press release to identify forward-looking statements. The Company bases these forward-looking statements on its current expectations and assumptions regarding market conditions and its views with respect to the Company’s financial performance, the economy and other future conditions. Actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. You should not put undue reliance on any forward-looking statements. You should understand that many important factors could cause the Company’s results to differ materially from those expressed or suggested in any forward-looking statement, including, without, limitation, the factors set forth under “Risk Factors” in the prospectus supplement relating to the Offering and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. All forward-looking statements speak only as of the date on which they are made. Except as required by law, the Company does not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise. Investors are advised to review the Company’s filings with the Securities and Exchange Commission (which are available from the SEC’s EDGAR database at www.sec.gov).

CONTACT:

Suman Mookerji, Senior Vice President, Chief Financial Officer, Controller and Treasurer 657.335.3665