Date: September 25, 2008
Source: Waste Connections, Inc.
Waste Connections Announces Exercise of Over-Allotment Option
Waste Connections, Inc. (NYSE: WCN) today announced that the underwriters of its recently announced public offering of common stock have exercised their over-allotment option to purchase an additional 1.65 million shares of common stock from Waste Connections at the public offering price of $32.50. In total, Waste Connections will sell 12.65 million shares of common stock at $32.50 per share in this public offering, raising net proceeds of $393.9 million. J.P. Morgan Securities Inc., Merrill Lynch & Co., Banc of America Securities LLC and Credit Suisse Securities (USA) LLC are acting as joint bookrunning managers for the offering. Subject to customary conditions, the offering is expected to close on or about September 30, 2008.
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 the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A copy of the final prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting J.P. Morgan Securities Inc. at National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Chase Distribution & Support Service Northeast Statement Processing, Phone: 718-242-8002; Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, Four World Financial Center, New York, New York 10080, phone: 866-500-5408; Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by e-mail to firstname.lastname@example.org or by mail to Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010, Phone: 800-221-1037.
Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S. The company serves more than 1.5 million residential, commercial and industrial customers from a network of operations in 23 states. The company also provides intermodal services for the movement of containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in Folsom, California.
Certain statements contained in this press release are forward-looking in nature. These statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or comparable terminology, or by discussions of strategy. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. Factors that could cause actual results to differ from those projected include, but are not limited to, those described in Waste Connections' filings with the Securities and Exchange Commission, including the Form S-3 Registration Statement and Prospectus Supplement related to the offering described above and Waste Connections' most recent Annual Report on Form 10-K. There may be additional risks of which Waste Connections is not presently aware or that it currently believes are immaterial which could have an adverse impact on its business. Waste Connections makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.
SOURCE Waste Connections, Inc.