J.B. Poindexter & Co., Inc. Provides Update Regarding Conditional Redemption Of 2022 Notes

HOUSTON, April 11, 2018 /PRNewswire/ -- J.B. Poindexter & Co., Inc. (the 'Company'), today provided an update regarding the conditional notice of redemption (the 'Conditional Notice') to redeem the Company's 9.000 percent Senior Unsecured Notes due 2022 (the '2022 Notes'). An aggregate principal amount of $175 million of the 2022 Notes is currently outstanding, and the redemption price would equal 103.000 percent of the principal amount of the 2022 Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date (as defined below). Under the Conditional Notice, the redemption of the 2022 Notes is subject to and conditioned upon the completion of, and receipt of sufficient net proceeds from, one or more financing transactions by the Company on or prior to April 12, 2018 (as it may be delayed from time to time in accordance with the Conditional Notice, the 'Redemption Date') for the purpose of redeeming the 2022 Notes (the 'Refinancing Condition').

The Company today announced that the Refinancing Condition will not be satisfied or waived by the Company on or prior to the initial Redemption Date. As contemplated by the Conditional Notice, the Company has delayed the Redemption Date until the business day immediately following the satisfaction or waiver of the Refinancing Condition. The Company reserves the right to rescind the Conditional Notice as provided therein if the conditions to the redemption of the 2022 Notes are not satisfied or waived prior to May 12, 2018.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "should," "may," "will," "would" or the negative thereof and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties, and actual results may differ. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

About J.B. Poindexter & Co., Inc.
J.B. Poindexter & Co., Inc. is a privately-held, diversified manufacturing company, with operating subsidiaries engaged in the production and sale of commercial truck and van bodies, step-vans, service/utility truck and van bodies, commercial vehicle shelving and storage systems, funeral coaches, limousines, pick-up truck caps and tonneau covers, precision machined components and expandable foam products. For more information, visit: www.jbpoindexter.com.

SOURCE J.B. Poindexter & Co., Inc.