West Corporation Announces Launch of $500 Million Initial Public Offering Monday, March 11, 2:28 PM ET
West Corporation, a leading provider of technology-driven communication services, today announced that it has commenced an initial public offering of 21,275,000 shares of its common stock. The estimated price range of the common stock is between $22.00 and $25.00 per share. The underwriters of the offering will have a 30-day option to purchase up to an additional 3,191,250 shares of common stock from the Company at the initial public offering price. The Company has applied to have its shares of common stock approved for listing on the Nasdaq Global Select Market under the symbol "WSTC."
The Company intends to use the net proceeds of the offering, along with cash on hand, primarily to repay outstanding indebtedness.
Goldman Sachs and Morgan Stanley are acting as lead bookrunners for the offering. Bank of America/Merrill Lynch, Barclays, Citigroup, Deutsche Bank Securities and Wells Fargo Securities are acting as joint bookrunners. Baird and William Blair are acting as co-lead managers, while Evercore Partners and Sanford C. Bernstein are acting as co-managers.
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