Gulfstream Aerospace GAC Message Board

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Non-Tech : Gulfstream Aerospace GAC

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To: Carmine Cammarosano who wrote (149)	5/12/1998 8:46:00 PM
From: Carmine Cammarosano	of 197

SAVANNAH, Ga.--(BUSINESS WIRE)--May 12, 1998--Gulfstream Aerospace Corporation (NYSE:GAC) announced today that a secondary public offering of 18 million shares of the Company's common stock has been priced at $43.00 per share. The shares are being sold by affiliates of Forstmann Little & Co. and current and former Gulfstream officers, directors, employees and advisors. The selling stockholders have granted the underwriters options to purchase up to 2.7 million additional shares to cover over-allotments. Upon completion of the offering, Forstmann Little affiliates and Gulfstream management will continue to own approximately 25.3% of Gulfstream shares on a fully diluted basis (approximately 21.9% if the over-allotment options are exercised in full).

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