WASHINGTON, Jan. 20, 2015 /PRNewswire/ -- The Advisory
Board Company ("the Advisory Board" or "the Company") (NASDAQ:
ABCO), a global, insight-driven technology, research, and services
provider to the health care and higher education industries, today
announced a proposed public offering of 4,700,000 shares of its
common stock.
Approximately 3,275,000 shares are being offered by the Company
and approximately 1,425,000 shares are being offered by Royall
Holdings, LLC, the previous owner of Royall Acquisition Co., which
the Advisory Board acquired on January
9, 2015. Royall Holdings, LLC received its shares as
part of the acquisition purchase price.
The Company intends to grant the underwriters a 30-day option to
purchase up to an additional 705,000 shares of the Advisory Board
common stock, with those shares exclusively offered by and proceeds
exclusively received by Royall Holdings, LLC.
The Advisory Board intends to use the net primary proceeds from
the proposed offering, or approximately $150
million, to repay a portion of the senior secured term loan
facility drawn to fund the acquisition of Royall Acquisition
Co.
J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Barclays are
acting as joint book-running managers for the offering. A
prospectus can be obtained by contacting J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717,
telephone: (866) 803-9204; BofA Merrill Lynch, Attn: Prospectus
Department, 222 Broadway, New York,
NY 10038, email: dg.prospectus_requests@baml.com; Morgan
Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY
10014; or Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email:
Barclaysprospectus@broadridge.com or telephone: (888) 603-5847.
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 state in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
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SOURCE The Advisory Board Company