NAPERVILLE, Ill., Oct. 28, 2004 (PRIMEZONE) -- Calamos Asset Management, Inc. announced today the pricing of its initial public offering of 20,000,000 shares of Class A common stock at $18.00 per share. The company has granted the underwriters of the offering an option to purchase up to 3,000,000 additional shares of Class A common stock to cover over-allotments, if any.
Citigroup Global Markets Inc. and Merrill Lynch Pierce, Fenner & Smith Incorporated served as joint book-running managers for the offering, with Goldman, Sachs & Co. and UBS Securities LLC serving as co-lead managers.
The company intends to use the approximately $50 million of the net proceeds from this offering to purchase newly issued membership units directly from Calamos Holdings LLC and the remaining $283 million of net proceeds to purchase membership units in Calamos Holdings LLC from Calamos Family Partners, Inc. The company expects to cause Calamos Holdings LLC to use the net proceeds from the company's acquisition of membership units directly from it to make payments to its employees in connection with the termination of its equity appreciation unit plan, to expand its alternative investment business and for general corporate purposes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which any such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities law of any such state or other jurisdiction.
This offering may only be made by means of a prospectus. A copy of the prospectus relating to this offering may be obtained from Citigroup, c/o Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York, NY 11220 (tel: 718.765.6732) or Merrill Lynch & Co., c/o Prospectus Department, 4 World Financial Center, New York, NY 10080 (tel: 212.449.1000).
About CALAMOS
Calamos Asset Management, Inc., provides investment advisory services through its subsidiaries to institutions and individuals, principally in the United States. As of September 30, 2004, the company had $33.2 billion in assets under management. With roots dating to 1977, the company applies a proprietary investment process centered on risk management across an expanding range of investment strategies within the equity, balanced, convertible, high yield and alternative investment classes.