Advanced Disposal Services (ADSW) Prices 19.25M Common Stock IPO at $18/Share, at Low-End of Expected Range

October 6, 2016 5:45 AM EDT
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Advanced Disposal Services, Inc. (NYSE: ADSW) announced the pricing of its initial public offering of 19,250,000 shares of its common stock at a price to the public of $18.00 per share. All of the shares are being offered by the Company. The shares are expected to begin trading on October 6, 2016 on the New York Stock Exchange under the ticker symbol "ADSW." The underwriters have the option to purchase up to an additional 2,887,500 shares of common stock. The Company intends to use the net proceeds from the shares offered to repay outstanding borrowings under the Term Loan B portion of its senior secured credit facilities.

Note: The company was recently looking for a pricing range of $18 - $21 per share.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Barclays Capital Inc. acted as lead joint book-running managers and representatives of the underwriters for the offering. UBS Securities LLC also acted as a lead joint book-running manager. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Macquarie Capital (USA) Inc., Morgan Stanley & Co. LLC, and Stifel also acted as joint book-running managers, and SMBC Nikko Securities America, Inc. and First Analysis Securities Corporation acted as co-managers.

The offering of these securities is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, or by email:, or by telephone: (800) 503-4611; from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by email:, or by telephone: (800) 221-1037; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email:, or by telephone: (888) 603-5847.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 5, 2016. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any such offer or solicitation or any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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