Wabtec Announces Launch of Public Offering by Selling Stockholder
April 30 2019 - 4:14PM
Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the
launch of an underwritten secondary offering of 12,500,000 shares
of Wabtec common stock by General Electric Company (“GE”), as the
sole selling stockholder. The selling stockholder expects to grant
the underwriters a 30-day option to purchase up to an additional
1,875,000 shares. Wabtec will not receive any proceeds from
the sale of the shares by the selling stockholder in this offering.
Morgan Stanley and Goldman Sachs & Co. LLC are acting as
joint lead book-running managers. BofA Merrill Lynch and
Citigroup are acting as joint book-running managers for the
offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities, nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction. The offering is being made under an automatic shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission (“SEC”) on April 30, 2019. The offering may be
made only by means of a prospectus and a related prospectus
supplement, copies of which may be obtained by contacting Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014 or Goldman Sachs &
Co. LLC, Attn: Prospectus Department, 200 West Street, New York,
New York 10282, telephone (toll-free): 866-471-2526.
About Wabtec Corporation
Wabtec Corporation is a leading global provider of equipment,
systems, digital solutions and value-added services for freight and
transit rail. Drawing on nearly four centuries of collective
experience across Wabtec, GE Transportation and Faiveley Transport,
the company has unmatched digital expertise, technological
innovation, and world-class manufacturing and services, enabling
the digital-rail-and-transit ecosystems. Wabtec is focused on
performance that drives progress, creating transportation solutions
that move and improve the world. The freight portfolio features a
comprehensive line of locomotives, software applications and a
broad selection of mission-critical controls systems, including
Positive Train Control (PTC). The transit portfolio provides
highly-engineered systems and services to virtually every major
rail transit system around the world, supplying an integrated
series of components for buses and all train-related market
segments that deliver safety, efficiency and passenger comfort.
Along with its industry-leading portfolio of products and solutions
for the rail and transit industries, Wabtec is a leader in mining,
marine and industrial solutions. Wabtec has approximately 27,000
employees in facilities throughout the world.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTS
This communication contains “forward-looking” statements as that
term is defined in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995,
including statements regarding the secondary offering by GE.
Forward-looking statements are based upon current plans, estimates
and expectations that are subject to risks, uncertainties and
assumptions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated or
anticipated by such forward-looking statements. The inclusion of
such statements should not be regarded as a representation that
such plans, estimates or expectations will be achieved. Any
forward-looking statements speak only as of the date of this
communication. Wabtec undertakes no obligation to update any
forward-looking statements, whether as a result of new information
or development, future events or otherwise, except as required by
law. Readers are cautioned not to place undue reliance on any of
these forward-looking statements.
Wabtec Media ContactDeia Campanelli /
Deia.Campanelli@Wabtec.com / 773-297-0482
Wabtec Investor ContactsTim Wesley /
Twesley@Wabtec.com / 412-825-1543Kristine Kubacki, CFA /
Kristine.Kubacki@wabtec.com / 412-450-2033
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