Standard Parking (STAN) Announces 5.8 Million Share Offering by Selling Shareholders

November 2, 2009 4:44 PM EST

Standard Parking Corporation (Nasdaq: STAN) announced the underwritten public offering of 5,800,000 shares of its common stock by GSO Special Situations Fund LP, GSO Special Situations Overseas Master Fund Ltd., GSO Special Situations Overseas Benefit Plan Fund Ltd., GSO Capital Opportunities Fund LP and CML VII, LLC. The underwriters have a 30-day option to purchase up to an additional 870,000 shares from the selling stockholders to cover over-allotments. Standard Parking will not receive any proceeds from this offering. The total number of shares of common stock outstanding will not change as a result of this offering.

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