World Fuel Services Corporation Closes Common Stock Offering
September 21 2010 - 11:16AM
Business Wire
World Fuel Services Corporation (“World Fuel Services” or the
“Company”) (NYSE: INT) announced today that it has closed its
previously announced public offering of 8,000,000 shares of common
stock at a price to the public of $25.00 per share. Additionally,
the underwriters have exercised an option to purchase an additional
1,200,000 shares to cover overallotments. After deducting the
underwriting discount and estimated offering expenses, the Company
received approximately $219 million in net proceeds from the
offering, including the overallotment option. The Company intends
to use the proceeds of the offering for general corporate purposes,
which may include potential acquisitions.
BofA Merrill Lynch, Credit Suisse and J.P. Morgan acted as joint
book-running managers for the offering. Additionally, senior
co-managers for the offering were HSBC, Wells Fargo Securities, and
RBS, and co-managers included TD Securities, BB&T Capital
Markets and Stephens Inc.
The common stock was offered under the Company’s effective shelf
registration statement filed with the Securities and Exchange
Commission (“SEC”). A copy of the prospectus supplement and related
base prospectus for the offering may be obtained, when available,
by visiting EDGAR on the SEC’s website, www.sec.gov. Alternatively,
copies of the prospectus supplement and the related base prospectus
for the offering 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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