WESCO International Announces Public Stock Offering
December 25, 2004WESCO International, Inc., Pittsburgh, PA, is publicly offering 4,000,000 shares of its common stock. Certain selling stockholders, including The Cypress Group LLC and a few members of the company's management team, are offering an additional 6,000,000 shares of common stock. The underwriters will have an option to purchase up to 1,500,000 additional shares, substantially all of which would come from The Cypress Group LLC.
The shares of common stock will be offered pursuant to WESCO's effective shelf registration statement. Goldman, Sachs & Co. and Lehman Brothers, Inc. are acting as joint book-runners, J. P. Morgan Securities Inc. and UBS Securities LLC as joint lead managers, and Robert W. Baird & Co. Incorporated and Bear, Stearns & amp; Co. Inc. as co-managers. ...
WESCO International, Inc., Pittsburgh, PA, is publicly offering 4,000,000 shares of its common stock. Certain selling stockholders, including The Cypress Group LLC and a few members of the company's management team, are offering an additional 6,000,000 shares of common stock. The underwriters will have an option to purchase up to 1,500,000 additional shares, substantially all of which would come from The Cypress Group LLC.
The shares of common stock will be offered pursuant to WESCO's effective shelf registration statement. Goldman, Sachs & Co. and Lehman Brothers, Inc. are acting as joint book-runners, J. P. Morgan Securities Inc. and UBS Securities LLC as joint lead managers, and Robert W. Baird & Co. Incorporated and Bear, Stearns & amp; Co. Inc. as co-managers.
WESCO intends to use the net proceeds from the sale of its common stock to repay a portion of its outstanding 9-1/8% senior subordinated notes due 2008 through a redemption or purchase. Pending use, WESCO may invest the remaining proceeds in short-term investment grade securities.
WESCO International, Inc.
(NYSE:WCC) is a publicly traded Fortune 500 holding company, whose primary operating entity is WESCO Distribution, Inc. WESCO
Distribution is a distributor of electrical construction products and electrical and industrial maintenance, repair and operating
(MRO) supplies, and is the nation's largest provider of integrated supply services with 2003 annual product sales of approximately
$3.3 billion. The company employs 5,350 people, maintains relationships with 24,000 suppliers, and serves 100,000 customers
worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions,
telecommunications businesses and utilities. WESCO operates five fully automated distribution centers and approximately 350
full-service branches in North America and selected international markets, providing a local presence for area customers and
a global network to serve multi-location businesses and multi-national corporations.
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