Wabtec Files Resale Shelf Registration
July 29 2020 - 4:15PM
Business Wire
Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the
registration of 6,306,781 shares of Wabtec Stock by Issarts
Captial, as the sole selling shareholder. The selling shareholder
is an entity controlled by the family of Wabtec Board member Erwan
Faiveley. The shares are being registered as contemplated by the
Shareholders Agreement entered into between Wabtec and the Faiveley
family as part of Wabtec’s acquisition of Faiveley Transportation
in November 2016. Wabtec will not receive any proceeds from the
sale of the shares.
Mr. Faiveley joined the Wabtec Board in 2016 and plans to
continue as a Director. He provides significant leadership and
active engagement with management as the Company implements its
strategic plan to further strengthen its portfolio and increase
value for customers, shareholder and employees. The shares will be
sold as part of the Faiveley family’s long-term diversification
strategy. Issarts owns approximately 6.3 million Wabtec shares,
which represents approximately 3.3% of the Company’s outstanding
capital stock. Issarts’ current intention is to sell up to one-half
of this amount periodically over a three-year period.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of 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
registration of the stock is being made under an automatic shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission (“SEC”) on July 29, 2020.
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. Visit: www.WabtecCorp.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200729005799/en/
Wabtec Investors Kristine Kubacki, CFA /
Kristine.Kubacki@wabtec.com / 412-450-2033 Wabtec Media Deia
Campanelli / Deia.Campanelli@wabtec.com / 773-297-0482
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