Wesco Aircraft Announces Pricing of Secondary Offering by Selling Stockholders
September 28 2012 - 9:09AM
Business Wire
Wesco Aircraft Holdings, Inc. (NYSE: WAIR), a leading provider
of comprehensive supply chain management services to the global
aerospace industry, today announced the pricing by certain
employees and former employees of the underwritten offering of
1,800,000 shares of its common stock at a price to the public of
$13.65 per share. Settlement of the offering is expected to occur
on October 3, 2012. The shares are being sold to cover a portion of
the employees’ tax liability resulting from the scheduled delivery
of 5,604,316 shares of common stock in the aggregate in
satisfaction of the terms of certain restricted stock unit awards
that were granted in 2006 in connection with the Company’s
recapitalization with The Carlyle Group. The Company will also pay
approximately $8.5 million in cash, in lieu of the delivery of
626,225 shares in the aggregate, in satisfaction of a portion of
the restricted stock unit awards held by the employee stockholders
pursuant to the terms of the applicable equity incentive plan. The
Company will not sell any shares in the offering and will not
receive any proceeds from the offering.
A resale registration statement relating to the shares is
effective with the Securities and Exchange Commission. A prospectus
relating to the offering has been filed with the Securities and
Exchange Commission. Copies of the prospectus may be obtained from
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Email:
Barclaysprospectus@broadridge.com, (888) 603-5847.
Barclays acted as sole underwriter for the offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to any registration or qualification
under the securities laws of such jurisdiction. Any offer of
securities covered by the resale registration statement may be made
solely by means of the prospectus included in the registration
statement containing specific information about the terms of any
such offering.
About Wesco Aircraft
Wesco Aircraft is one of the world's largest distributors and
providers of comprehensive supply chain management services to the
global aerospace industry. The Company’s services range from
traditional distribution to the management of supplier
relationships, quality assurance, kitting, just-in-time delivery
and point-of-use inventory management. The Company believes it
offers the world’s broadest inventory of aerospace parts, comprised
of approximately 500,000 different stock keeping units, including
hardware, bearings, tools, electronic components and machined
parts. Wesco Aircraft has more than 1,200 employees across 44
locations in 12 countries.
Forward Looking Statements
Certain information in this news release contains
forward-looking statements with respect to the Company’s
expectations or beliefs concerning future events. In some cases,
you can identify forward-looking statements by terminology such as
“guidance,” “may,” “will,” “could,” “should,” “forecasts,”
“expects,” “intends,” “plans,” “anticipates,” “projects,”
“outlook,” “believes,” “estimates,” “predicts,” “potential,”
“continue,” “preliminary,” or the negative of these terms or other
comparable terminology. Although the Company believes that such
forward-looking statements are reasonable, it cannot assure you
that any forward-looking statements will prove to be correct. Such
forward-looking statements involve risks, uncertainties, estimates
and assumptions that may cause the Company’s actual results,
performance or achievements to be materially different than those
set forth in this news release. In particular, there can be no
assurances that the offering by the employee stockholders will be
consummated or that it will be consummated on the terms described
in this new release. Additional information relating to factors
that may cause actual results to differ from the Company’s
forward-looking statements can be found in the Company’s filings
with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 10-K for the fiscal year ended
September 30, 2011, as supplemented by the Company’s Quarterly
Report on Form 10-Q for the quarterly periods ended December 31,
2011, March 31, 2012 and June 30, 2012. The Company undertakes no
obligation to update or revise forward-looking statements after the
day of the release as a result of new information, future events or
developments except as required by law.
Wesco Aircraft (NYSE:WAIR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wesco Aircraft (NYSE:WAIR)
Historical Stock Chart
From Jul 2023 to Jul 2024