Coinmach Service Corp. Announces Overallotment Option Exercise for 578,199 IDSs.PLAINVIEW, N.Y. -- Coinmach Service Corp. (the "Company") (AMEX AMEX See: American Stock Exchange : "DRY") today announced that the underwriters of its initial public offering of income deposit securities ("IDSs") exercised a portion of their overallotment option overallotment option See greenshoe. to purchase additional IDSs, and will purchase an additional 578,199 IDSs at the initial public offering price of $13.64 per IDS, less the underwriters' discount. Each IDS represents one share of Class A common stock and $6.14 principal amount of 11.0% senior secured notes due 2024. Coinmach Laundry Corporation, a wholly-owned subsidiary of the Company, will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to redeem certain of its outstanding preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. from existing financial investors and other current stockholders. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. acted as sole book-running manager and Jefferies & Company, Inc. and Citigroup acted as joint lead managers of our initial public offering. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering may be obtained by contacting Merrill Lynch & Co., 4 World Financial Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10080. The Company, through its operating subsidiaries, is the leading supplier of outsourced laundry equipment services for multi-family housing properties in North America. The Company's core business involves leasing laundry rooms from building owners and property management companies, installing and servicing laundry equipment, collecting revenues generated from laundry machines, and operating retail laundromats. Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission. |
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