World Fuel Services Corporation Announces Pricing of Common Stock Offering
September 15 2010 - 7:46PM
Business Wire
World Fuel Services Corporation (“World Fuel Services” or the
“Company”) (NYSE: INT) announced today the pricing of an
underwritten public offering of 8,000,000 shares of its common
stock at a price to the public of $25.00 per share. The Company has
granted the underwriters a 30-day option to purchase up to an
additional 1,200,000 shares to cover overallotments, if any. The
Company expects to receive net proceeds, after deducting the
underwriting discount and estimated offering expenses, of
approximately $190 million from the offering, or $219 million if
the underwriters exercise their overallotment option in full. World
Fuel Services intends to use the proceeds of the offering for
general corporate purposes, which may include potential
acquisitions. The offering is expected to close on September 21,
2010, subject to customary closing conditions.
BofA Merrill Lynch, Credit Suisse and J.P. Morgan acted as joint
book-running managers for the offering.
The common stock will be offered under the Company’s effective
shelf registration statement filed with the Securities and Exchange
Commission (“SEC”). A prospectus supplement relating to the
offering will be filed with the SEC. Any offer, solicitation or
sale will be made only by means of the prospectus supplement and
the accompanying prospectus. Copies of the prospectus supplement
and prospectus relating to these securities may be obtained, when
available, by visiting EDGAR on the SEC’s website, www.sec.gov.
Alternatively, copies may be obtained, when available, by
contacting: BofA Merrill Lynch, 4 World Financial Center, New York,
NY 10080, attention: Prospectus Department, email:
dg.prospectus_requests@baml.com; Credit Suisse, Attn: Prospectus
Department, One Madison Avenue 1B, New York, NY 10010, phone: (800)
221-1037; or J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone:
(866) 803-9204.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any
security of World Fuel Services, nor will there be any sale of such
security in any jurisdiction in which such offer, sale or
solicitation would be unlawful. Any offer will be made only by
means of a prospectus supplement and related base prospectus or by
a free writing prospectus in accordance with SEC rules.
Forward-Looking
Statements
This press release contains 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. These forward-looking statements include, but are not
limited to, statements related to the proposed offering of shares
of World Fuel Services’ common stock and the anticipated use of
proceeds therefrom. These forward looking statements involve known
and unknown risks, uncertainties and other factors discussed in
World Fuel Services’ filings with the SEC. Any forward-looking
statements speak only as of the date of this press release and,
except to the extent required by applicable securities laws, World
Fuel Services expressly disclaims any obligation to update or
revise any of them to reflect actual results, any changes in
expectations or any change in events. If World Fuel Services does
update one or more forward-looking statements, no inference should
be drawn that it will make additional updates with respect to those
or other forward-looking statements. For additional information
concerning risks, uncertainties and other factors that may cause
actual results to differ from those anticipated in the
forward-looking statements, and risks to World Fuel Services’
business in general, please refer to its SEC filings, including its
Annual Report on Form 10-K for the fiscal year ended December 31,
2009 and its Quarterly Reports on Form 10-Q for the quarterly
periods ended March 31, 2010 and June 30, 2010.
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