Wright Express Corporation Announces Pricing of Initial Public Offering
SOUTH PORTLAND, ME — Wright Express Corporation announced on Feb. 15 that the initial public offering of 40 million shares of its common stock was priced at $18 per share.All 40 million shares of common stock are being sold by Cendant Corporation. The Company's common stock has been approved for listing on the New York Stock Exchange under the ticker symbol "WXS." As previously announced, JP Morgan, Credit Suisse First Boston and Merrill Lynch & Co. are the joint book-running managers of the offering. The completion of the offering is scheduled for Tuesday, Feb. 22, subject to customary closing conditions. Wright Express will not receive any of the proceeds from the 40 million shares of common stock being sold by Cendant. Wright Express will use any proceeds it receives from the exercise of the underwriters' over-allotment option to purchase up to 6 million additional shares of common stock for general corporate purposes, which may include the repayment of borrowings under its new credit facility and share repurchases. A copy of the prospectus relating to the shares of Wright Express common stock may be obtained from J.P. Morgan Securities Inc., Prospectus Department, One Chase Manhattan Plaza, New York, NY 10081, Telephone: (212) 552-5164), Credit Suisse First Boston LLC, Prospectus Department, One Madison Avenue, Level 1B, New York, NY 10010 by faxing a request to (212) 325-8057, or Merrill Lynch & Co. at 4 World Financial Center, New York, NY 10080, Telephone: (212) 449-1000.