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WirelessDevNet.com Press Release
Virgin Mobile USA Prices Initial Public Offering
WARREN, NJ -- Virgin Mobile USA, Inc. announced today that its initial public offering of 27,500,000 shares of Class A common stock has been priced at $15.00 per share. The shares are expected to begin trading on the New York Stock Exchange, October 11, under the symbol "VM".
Of the total 27,500,000 shares sold in the offering, 25,467,160 shares were sold by the company, while the remaining shares were sold by certain stockholders. In connection with the offering, a selling stockholder has granted to the underwriters a 30-day option to purchase up to an additional 4,125,000 shares to cover over-allotments.
Lehman Brothers was lead manager and book runner for the offering, with Merrill Lynch & Co. and Bear Stearns & Co acting as joint book-running managers.
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 these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
A copy of the final prospectus may be obtained by contacting:
Lehman Brothers Inc.
c/o ADP Financial Services, Integrated Distribution Services
1155 Long Island Avenue
Edgewood, NY 11717
Fax: (631) 254-7268 or email: Monica_Castillo@adp.com
The final prospectus, when it is available, also may be obtained on the Securities and Exchange Commission's Web site at http://www.sec.gov.
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