A little more than a month after the company filed a registration statement for a secondary offering of common stock (see Daily GPI, June 19), IntercontinentalExchange (ICE) announced Tuesday the pricing of the 8,000,000 shares of common stock in the secondary offering at $56/share.
Of these shares, shareholders will sell 7,975,000 shares and ICE will sell 25,000 shares. After closing at $58.11/share on Monday, ICE’s common stock on Tuesday morning was trading around $57.30/share.
The company noted that it will not receive any of the proceeds from the sale of shares by shareholders. Members of management will not sell shares in the offering. The underwriters have an option to purchase up to an additional 1,200,000 shares from the selling shareholders at the public offering price, less the underwriting discounts and commissions. The underwriters have 30 days from the date of pricing to exercise the option to purchase such additional shares.
The secondary offering follows ICE’s successful initial public offering (IPO) last fall when the company’s share price showed strong growth right off the bat (see Daily GPI, Nov. 17, 2005). Back then, the company launched its IPO of 16 million shares at $26/share.
Goldman, Sachs & Co. and Morgan Stanley & Co. have acted as joint book-running managers for the offering. UBS Securities LLC., William Blair & Company LLC., Sandler O’Neill & Partners, LP. and SG Americas Securities, LLC. have served as co-managers for the offering. The offering will be made only by means of the written prospectus forming a part of the effective registration statement.
To obtain a copy of the final prospectus relating to this offering, visit the EDGAR database on the Securities and Exchange Commission website at https://www.sec.gov.
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