SOURCE: EnergySolutions

December 11, 2007 19:00 ET

EnergySolutions, Inc. Announces Exercise of Over-Allotment Option of 3,300,000 Shares

SALT LAKE CITY, UT--(Marketwire - December 11, 2007) - EnergySolutions, Inc. (NYSE: ES) today announced that the underwriters of its initial public offering of 30,000,000 depositary shares, each representing one share of common stock, have exercised their option to purchase an additional 3,300,000 depositary shares at the initial public offering price of $23 per share. Of the 3,300,000 shares to be sold pursuant to the over-allotment option, EnergySolutions will sell 1,303,500 shares and the selling stockholder will sell 1,996,500 shares. The selling stockholder is controlled by affiliates of Lindsay Goldberg, Peterson Partners L.P. and certain members of the management of EnergySolutions. The closing of the over-allotment option, expected to occur on December 12, 2007, will increase the aggregate number of shares sold in the initial public offering to 33,300,000, and will increase the number of shares outstanding to 88,303,500. EnergySolutions will receive approximately $28.2 million in net proceeds and the selling stockholder will receive approximately $43.2 million in net proceeds from the sale of shares pursuant to the over-allotment option.

EnergySolutions intends to use its net proceeds from the shares sold pursuant to the over-allotment option to repay additional outstanding debt under its credit facilities. EnergySolutions will not receive any proceeds from the sale of shares by the selling stockholder.

Credit Suisse, JPMorgan and Morgan Stanley were the joint book-running managers for the offering. A registration statement relating to this offering was filed 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A copy of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC, One Madison Avenue 1B, New York, NY 10010; telephone 1-800-221-1037, Attention: Prospectus Department; J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, telephone 718-242-8002, Attention: Prospectus Department; or Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd floor, New York, New York 10014, telephone 1-866-718-1649, Attention: Prospectus Department.

Statements in this press release may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different.

EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, the safe, secure disposition of nuclear waste, and research and engineering services across the fuel cycle.

Contact Information

  • For more information, please contact:
    Mark Walker
    801-231-9194
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