Synagro Technologies, Inc. Announces Underwriters Exercised Over-Allotment Option on 4.15 Million Shares in Conjunction with Fol
June 29 2005 - 6:25PM
Business Wire
Synagro Technologies, Inc. (Nasdaq SmallCap:SYGR)(ArcaEx:SYGR),
("the Company") announced today that the underwriters on the
Company's follow-on offering recently exercised their
over-allotment option to purchase an additional 4,150,000 shares of
the Company's common stock. As outlined in the offering prospectus,
the over-allotment shares of common stock were offered by the
selling stockholders. Banc of America Securities LLC and Lehman
Brothers were the joint book-running managers for the offering. In
addition, CIBC was a lead manager, and Raymond James and Sanders
Morris Harris were co-managers for the offering. Copies of the
final prospectus relating to the offering may be obtained from Banc
of America Securities LLC, Attn: Prospectus Department, 100 West
33rd Street, New York, New York 10001 or via e-mail at
dg.prospectus_distribution@bofasecurities.com or Lehman Brothers
Inc., c/o ADP Financial Services, Integrated Distribution Services,
1155 Long Island Avenue, Edgewood, New York 11717. Synagro
Technologies, Inc. believes that it is the largest recycler of
biosolids and other organic residuals in the United States and it
believes that it is the only national company focused exclusively
on the estimated $8 billion organic residuals industry, which
includes water and wastewater residuals. The Company serves
approximately 600 municipal and industrial water and wastewater
treatment accounts with operations in 37 states and the District of
Columbia. The Company offers a broad range of water and wastewater
residuals management services focusing on the beneficial reuse of
organic, nonhazardous residuals resulting from the wastewater
treatment process, including drying and pelletization, composting,
product marketing, incineration, alkaline stabilization, land
application, collection and transportation, regulatory compliance,
dewatering, and facility cleanout services. Safe Harbor Statement
This press release contains certain forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve known and unknown risks, uncertainties or
other factors not under Synagro's control which may cause the
actual results, performance or achievement of Synagro to be
materially different from the results, performance or other
expectations implied by these forward-looking statements. These
factors include, but are not limited to: the risk that our
stockholders may not receive the level of dividends provided for in
the dividend policy adopted by our board or any dividends at all;
unseasonable weather; changes in government regulations; the
ability to find, timely close, and integrate acquisitions; changes
in federal wastewater treatment and biosolid regulation; our
ability to comply with federal, state and local environmental
regulations or to maintain and obtain necessary permits;
competition in the wastewater residuals management business; the
risk of early termination of customer contracts; our level of debt;
our ability to obtain additional financing; our ability to maintain
sufficient insurance; the effect of the restrictions in our senior
secured credit facility on our operation; and our ability to
service our debt. Other factors are discussed in Synagro's periodic
filings with the Securities and Exchange Commission.
Synagro (NASDAQ:SYGR)
Historical Stock Chart
From Apr 2024 to May 2024
Synagro (NASDAQ:SYGR)
Historical Stock Chart
From May 2023 to May 2024