EnergySolutions, Inc. Announces Exercise of Over-Allotment Option of 3,300,000 Shares
SALT LAKE CITY, UT--(Marketwire - December 11, 2007) - EnergySolutions, Inc. (NYSE: ES) today
announced that the underwriters of its initial public offering of
30,000,000 depositary shares, each representing one share of common stock,
have exercised their option to purchase an additional 3,300,000 depositary
shares at the initial public offering price of $23 per share. Of the
3,300,000 shares to be sold pursuant to the over-allotment option,
EnergySolutions will sell 1,303,500 shares and the selling stockholder will
sell 1,996,500 shares. The selling stockholder is controlled by affiliates
of Lindsay Goldberg, Peterson Partners L.P. and certain members of the
management of EnergySolutions. The closing of the over-allotment option,
expected to occur on December 12, 2007, will increase the aggregate number
of shares sold in the initial public offering to 33,300,000, and will
increase the number of shares outstanding to 88,303,500. EnergySolutions
will receive approximately $28.2 million in net proceeds and the selling
stockholder will receive approximately $43.2 million in net proceeds from
the sale of shares pursuant to the over-allotment option.
EnergySolutions intends to use its net proceeds from the shares sold
pursuant to the over-allotment option to repay additional outstanding debt
under its credit facilities. EnergySolutions will not receive any proceeds
from the sale of shares by the selling stockholder.
Credit Suisse, JPMorgan and Morgan Stanley were the joint book-running
managers for the offering. A registration statement relating to this
offering was filed and 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 jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. A copy of the prospectus relating to
the offering may be obtained from Credit Suisse Securities (USA) LLC, One
Madison Avenue 1B, New York, NY 10010; telephone 1-800-221-1037, Attention:
Prospectus Department; J.P. Morgan Securities Inc., National Statement
Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level,
Brooklyn, NY 11245, telephone 718-242-8002, Attention: Prospectus
Department; or Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd
floor, New York, New York 10014, telephone 1-866-718-1649, Attention:
Prospectus Department.
Statements in this press release may be forward-looking statements. These
forward-looking statements involve risks and uncertainties that could cause
the outcome to be materially different.
EnergySolutions offers customers a full range of integrated services and
solutions, including nuclear operations, characterization, decommissioning,
decontamination, site closure, transportation, nuclear materials
management, the safe, secure disposition of nuclear waste, and research and
engineering services across the fuel cycle.
Contact Information: For more information, please contact:
Mark Walker
801-231-9194