CLARENCE, N.Y., Sept. 29, 2000 (PRIMEZONE) -- Wilson Greatbatch Technologies, Inc. (NYSE:GB) (the "Company" or "WGT") today announced its initial public offering of 5,000,000 shares of its common stock at an initial public offering price of $16 per share. All of the shares were offered by the Company. The shares will trade on the New York Stock Exchange under the symbol "GB".
Donaldson, Lufkin, & Jenrette Securities Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book running managers of the offering, and Banc of America Securities LLC, U.S. Bancorp Piper Jaffray, Inc. and DLJdirect Inc. served as co-managers. The Company has granted the underwriters an option to purchase up to 750,000 shares of common stock to cover over-allotments, if any. The net proceeds from the offering will be used to reduce the Company's existing indebtedness. Additional information about this offering is available in the Company's prospectus filed with the Securities and Exchange Commission.
WGT, with operations in New York, Maryland, and Massachusetts, is a leading developer and manufacturer of power sources and feedthroughs used in implantable medical devices. WGT also manufactures and develops other components used in implantable medical devices, including wet tantalum capacitors and precision components and also batteries used in demanding applications such as space transportation and oil exploration. Wilson Greatbatch, the inventor of the implantable heart pacemaker, founded WGT in 1970. WGT's customers include leading implantable medical device manufacturers both in the United States and overseas.
Copies of the final prospectus related to the offering may be obtained from Donaldson, Lufkin & Jenrette, 277 Park Avenue, New York, New York 10172, Phone: (212) 892-3000; Fax: (212) 892-7272. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale 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.
Note: Additional information about Wilson Greatbatch Technologies, Inc. is also available at http://www.greatbatch.com.