InfraSource Services, Inc. Announces Secondary Offering of Common Stock
March 01 2006 - 7:21AM
PR Newswire (US)
MEDIA, Pa., March 1 /PRNewswire-FirstCall/ -- InfraSource Services,
Inc. (NYSE:IFS) today announced the filing of a registration
statement on Form S-3 with the Securities and Exchange Commission
relating to an offering of up to 13,000,000 shares of its common
stock. The shares are being offered by certain stockholders of the
Company. InfraSource will not receive any of the proceeds of the
offering. In addition, the underwriters have an option to purchase
up to an additional 1,950,000 shares from the selling stockholders
to cover over-allotments, if any. Lehman Brothers Inc. and Credit
Suisse Securities (USA) LLC are acting as joint book-running
managers and Merrill, Lynch, Pierce, Fenner & Smith
Incorporated and First Albany Capital, Inc. are serving as
co-managers for the offering. Copies of the prospectus relating to
the offering may be obtained from Lehman Brothers Inc. c/o ADP
Financial Services, Integrated Distribution Services, 1155 Long
Island Avenue, Edgewood, NY 11717, telephone (631) 254- 7118 or fax
(631) 254-7134. A registration statement relating to these
securities has been filed with the Securities and Exchange
Commission but has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. About
InfraSource InfraSource Services, Inc. (NYSE:IFS) is one of the
largest specialty contractors servicing electric, natural gas and
telecommunications infrastructure in the United States. InfraSource
designs, builds, and maintains transmission and distribution
networks for utilities, power producers, and industrial customers.
Safe Harbor Statement Certain statements contained in this press
release are forward-looking statements. These forward-looking
statements are based upon our current expectations about future
events. When used in this press release, the words "believe,"
"anticipate," "intend," "estimate," "expect," "will," "should,"
"may," and similar expressions, or the negative of such words and
expressions, are intended to identify forward-looking statements,
although not all forward- looking statements contain such words or
expressions. These forward-looking statements generally relate to
our plans, objectives and expectations for future operations and
are based upon management's current estimates and projections of
future results or trends. However, these statements are subject to
a number of risks and uncertainties affecting our business. You
should read this press release completely and with the
understanding that actual future results may be materially
different from what we expect as a result of these risks and
uncertainties and other factors, which include, but are not limited
to: (1) technological, structural and cyclical changes that could
reduce the demand for the services we provide; (2) the impact of
variations between actual and estimated costs under our contracts,
particularly our fixed-price contracts; (3) our ability to
successfully bid for and perform large-scale project work; (4) our
ability to attract and retain qualified personnel; (5) the award of
new contracts and the timing of the performance of those contracts;
(6) project delays or cancellations; (7) the uncertainty of
implementation of the recently enacted federal energy legislation;
and (8) other factors detailed from time to time in our reports and
filings with the Securities and Exchange Commission. Except as
required by law, we do not intend to update forward-looking
statements even though our situation may change in the future.
CONTACT: John A. Curran 610-480-8000 Mahmoud Siddig 212-889-4350
DATASOURCE: InfraSource Services, Inc. CONTACT: John A. Curran,
+1-610-480-8000, ; Mahmoud Siddig, +1-212-889-4350,
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