Coach USA Offering of 4 Million Shares Priced At $45.HOUSTON--(BUSINESS WIRE)--May 7, 1998--Coach USA, Inc., (NYSE NYSE See: New York Stock Exchange : CUI (Character-based User Interface) A user interface that uses the character, or text, mode of the computer, such as DOS and Unix. In order to instruct the computer, commands are typed in. Contrast with GUI. ) today announced that the public offering of four million shares of its Common Stock has been priced at $45 per share. Of the total shares offered, two million will be sold by the Company and two million will be sold by various stockholders of the Company. The underwriters hold an over-allotment option to sell up to 600,000 additional shares within 30 days. The lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. of the offering is BT Alex. Brown Incorporated. Donaldson, Lufkin & Jenrette Securities Corporation and NationsBanc Montgomery Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control will act as co-managers. A prospectus relating to these securities may be obtained from BT Alex. Brown Incorporated, 1 South Street, Baltimore, MD 21202. The Company intends to use the estimated net proceeds of $85.5 million to reduce indebtedness under the Company's credit facility incurred in connection with the Company's acquisition program. 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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Coach USA is the largest provider of motorcoach tour and charter services and one of the largest providers of motorcoach commuter and transit services in the United States. CONTACT: Coach USA, Inc. Dick Kristinik, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Larry King, Senior Vice President and CFO See Chief Financial Officer. 1(888) COACH-US or Betsy Brod/Alan Kaiser Investor Relations Media: Stan Froelich/Eileen King Morgen-Walke Associates, Inc. 212/850-5600 |
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