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Comverge Announces Pricing of Follow-On Offering
East Hanover, NJ - December 7, 2007: Comverge, Inc. (Nasdaq: COMV), a leading clean capacity provider through demand response and energy efficiency, announced today the pricing of its follow-on offering of 4,000,000 shares of common stock at $29.00 per share. The offering includes 800,000 shares offered by Comverge and 3,200,000 shares offered by certain selling stockholders. Comverge and the selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the same price to cover over-allotments. The offering is expected to close on or about December 12, 2007.
Citi and Goldman, Sachs & Co. acted as joint book-running managers of the offering. Cowen and Company, LLC and RBC Capital Markets Corporation acted as co-lead managers. Stephens Inc. and Pacific Growth Equities, LLC acted as co- managers. A copy of the final prospectus relating to the offering may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, N.Y. 11220, (718) 765-6732, fax (718) 765-6734 and Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, N.Y. 10004, fax (212) 902-9316 or email at prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Comverge:
Comverge is a leading provider of clean energy solutions that improve grid reliability and supply electric capacity on a more cost effective basis than conventional alternatives by reducing base load and peak load energy consumption.
For Comverge Investors:
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements related to the proposed offering of our common stock, in this release do not constitute guarantees of future performance and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section "Risk Factors" in the registration statement and our most recent Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission, as well as other documents that may be filed by Comverge from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, our actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Comverge is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Investor Relations
Michael Picchi
Chief Financial Officer
770-696-7660, invest@comverge.com
Media Relations
Chris Neff
Director of Marketing
973-947-6064, cneff@comverge.com |