DAMES & MOORE ANNOUNCES THE INITIAL PUBLIC OFFERING OF 5.75 MILLION SHARES OF COMMON STOCK
DAMES & MOORE ANNOUNCES THE INITIAL PUBLIC OFFERING
OF 5.75 MILLION SHARES OF COMMON STOCK
LOS ANGELES, March 5 /PRNewswire/ -- Dames & Moore (NASDAQ: DMOR) announced today the initial public offering of 5,750,000 shares of common stock at a price of $20 per share. Of the shares offered, 2,500,000 shares were sold by the company and 3,250,000 shares were sold by certain selling stock holders. Kidder, Peabody & Co. Incorporated; Goldman, Sachs & Co.; Smith Barney, Harris Upham & Co. Incorporated; and Oppenheimer & Co., Inc. are co-managers of the underwriting group.
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.
/CONTACT: Robert M. Perry of Dames & Moore, 213-683-1560/
(DMOR) CO: Dames & Moore ST: California IN: SU: OFR SH -- NY021 -- 5335 03/05/92 09:49 EST