Genesee & Wyoming Announces Proposed Public Offering of 3.5 Million Class A Common Stock and 2 Million Tangible Equity Units
Genesee & Wyoming Inc. (NYSE: GWR) announced today the commencement of registered underwritten public offerings of the Company's Class A Common Stock and tangible equity units. The proposed offerings consist of 3,500,000 shares of Class A Common Stock, including 233,996 shares of Class A Common Stock being offered by a selling stockholder who is the Chairman of the Company's Board of Directors, and 2,000,000 tangible equity units, each with a stated amount of $100. In addition, the Company intends to grant the underwriters of the Class A Common Stock offering a 30-day option to purchase up to an additional 525,000 shares of Class A Common Stock and the underwriters of the tangible equity units offering an option to purchase, within a 13-day period beginning on, and including, the initial issuance date for the tangible equity units, up to an additional 300,000 tangible equity units. The completion of the Class A Common Stock offering is not contingent on the completion of the tangible equity units offering, and the completion of the tangible equity units offering is not contingent on the completion of the Class A Common Stock offering.
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