Credit Suisse First Boston Exercises Greenshoe for ACT
Manufacturing Follow-on Offering
PALO ALTO, Calif.--(BUSINESS WIRE)--Nov. 22, 199--Credit
Suisse First Boston announced that the underwriters purchased
453,750 shares of common stock at a price of $26.0625/share
offered by ACT Manufacturing, Inc. (NASDAQ: ACTM) and its
selling stockholders to cover over-allotments in connection
with the Company's public offering. The offering was managed
by Credit Suisse First Boston, CIBC World Markets, SG Cowen
and J.C. Bradford & Co.
The additional stock offering consisted of 247,500 shares
offered by ACTM and 206,250 shares offered by the selling
stockholders. The Company received approximately $6.1 million
in net proceeds from the exercise by the underwriters by
their over-allotment option. The net proceeds to the Company
from the sale of the over-allotment shares were used to repay
a portion of the Company's outstanding indebtedness.
ACT Manufacturing, Inc., headquartered in Hudson,
Massachusetts, provides value-added electronics manufacturing
services to original equipment manufacturers in the
networking and telecommunications, computer, industrial and
medical equipment markets. They also provide OEMs with
printed circuit board assembly, using mostly advanced surface
mount technology, electro-mechanical sub-assembly, total
system assembly and integration and mechanical and molded
cable and harness assembly.
A copy of the prospectus related to this offering is
available through Credit Suisse First Boston's Prospectus
Department at 212-325-2580.
Credit Suisse First Boston is a leading global investment
banking firm, providing comprehensive financial advisory,
capital raising, sales and trading, and financial products
for users and suppliers of capital around the world. It
operates in over 60 offices across more than 30 countries and
has over 14,000 employees. For the year ended December 31,
1998, CSFB had $6.7 billion in revenues, $7.1 billion in
equity and $291 billion in assets. The Firm is a wholly owned
subsidiary of the Zurich-based Credit Suisse Group.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale
of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
any such state or jurisdiction.
Contact:
Credit Suisse First Boston
Cheryl Popp, 650/614-1630 (Palo Alto)
Nate Meyer, 650/614-1632 (Palo Alto)
Sierra Scott, 650/614-1633 (Palo Alto)
Victoria Harmon, 212/325-6914 (New York) |
