DAMES & MOORE ANNOUNCES FILING OF AMENDED REGISTRATION STATEMENT ON PROPOSED INITIAL PUBLIC OFFERING
DAMES & MOORE ANNOUNCES FILING OF AMENDED REGISTRATION STATEMENT
ON PROPOSED INITIAL PUBLIC OFFERING
LOS ANGELES, Feb. 7 /PRNewswire/ -- Dames & Moore announced today that it has filed, with the Securities and Exchange Commission, an amended registration statement relating to a proposed initial public offering of 5,750,000 shares of common stock. Of the shares to be offered, 2,500,000 shares will be sold by the company and 3,250,000 shares will be sold by certain selling stockholders. The selling stockholders also plan to grant the underwriters an option to purchase an aggregate of 750,000 additional shares solely to cover over- allotments. It is currently estimated that the initial public offering price will be between $18 and $21 per share. Kidder, Peabody & Co. Incorporated; Goldman, Sachs & Co.; Smith Barney, Harris Upham & Co. Incorporated; and Oppenheimer & Co., Inc. have been selected to manage the offering.
The net proceeds to the company from the offering will be used for repayment of debt, internal expansion, possible acquisitions and general corporate purposes.
Dames & Moore is a worldwide provider of comprehensive environmental and other specialized consulting and engineering services. The company offers a broad range of environmental services which primarily consist of the assessment of site conditions and the design and implementation of solutions for a variety of issues related to hazardous waste, air pollution, water pollution, facility permitting and regulatory compliance. The company also provides specialized consulting services relating to civil and geotechnical engineering, water supply, and urban and transportation planning and design. The company currently has approximately 3,500 professional and support employees strategically located in over 100 offices worldwide.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the preliminary prospectus relating to the proposed offering may be obtained from the managing underwriters.
/CONTACT: Robert M. Perry of Dames & Moore, 213-683-1560/ CO: Dames & Moore ST: California IN: SU: OFR SH -- NY031 -- 7720 02/07/92 11:09 EST