Shares to Trade Under Ticker Symbol 'WXS'
SOUTH PORTLAND, Maine, Feb. 15 /PRNewswire-FirstCall/ -- Wright Express
Corporation (NYSE: WXS) today announced that the initial public offering of 40
million shares of its common stock was priced at $18.00 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, JPMorgan,
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).
A registration statement relating to these securities has been filed with
and declared effective by the Securities and Exchange Commission. 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 shares of Wright Express common
stock in any state in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
About Wright Express
Wright Express is a leading provider of payment processing and information
management services to the U.S. commercial and government vehicle fleet
industry. Wright Express provides these services for over 280,000 commercial
and government fleets containing more than 3.9 million vehicles. Wright
Express markets these services directly as well as through its over 80
strategic relationships, and offers a MasterCard-branded corporate card. The
Company employs more than 610 people and maintains its headquarters in South
Portland, Maine.
News media contact: Investor contact:
Jessica Roy Steve Elder
Wright Express Wright Express
207.318.3461 (cell) 207.415.8253 (cell)
207.523.6763 (office) 207.523.7769 (office)
Jessica_Roy@wrightexpress.com Steve_Elder@wrightexpress.com
SOURCE Wright Express Corporation
-0- 02/15/2005
/CONTACT: Jessica Roy, +1-207-318-3461 (cell), +1-207-523-6763 (office),
Jessica_Roy@wrightexpress.com, or Steve Elder, +1-207-415-8253 (cell),
+1-207-523-7769 (office), Steve_Elder@wrightexpress.com, both of Wright
Express/
/Web site: http://www.wrightexpress.com/
(WXS)
CO: Wright Express Corporation
ST: Maine
IN: FIN CPR
SU: OFR
NJ-CP
-- NETU049 --
5092 02/15/2005 20:16 EST http://www.prnewswire.com