InfraSource Services, Inc. Announces Pricing of Secondary Offering of Common Stock
August 09 2006 - 7:36PM
PR Newswire (US)
MEDIA, Pa., Aug. 9 /PRNewswire-FirstCall/ -- InfraSource Services,
Inc. (NYSE:IFS) today announced the pricing of the secondary
offering of 10,394,520 shares of its common stock at $17.25 per
share. The shares are being offered by certain stockholders of the
Company. InfraSource will not receive any of the proceeds from the
offering. In addition, the underwriters have an option to purchase
up to an additional 1,559,179 shares from the selling stockholders
to cover over-allotments, if any. The offering is expected to close
on August 15, 2006, subject to customary closing conditions. Credit
Suisse Securities (USA) LLC and Merrill, Lynch, Pierce, Fenner
& Smith Incorporated are acting as joint book-running managers,
and Lehman Brothers Inc. 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 the Prospectus Department of
Credit Suisse Securities (USA) LLC at (800) 221-1037. A
registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission. 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. 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 of InfraSource Services, +1-610-480-8000, ; or Mahmoud
Siddig of Taylor Rafferty, +1-212-889-4350, , for InfraSource
Services
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