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Verra Mobility Announces Closing Of Secondary Offering And Concurrent Stock Repurchase
MESA, Ariz., Aug. 20, 2021 /PRNewswire/ -- Verra Mobility (NASDAQ: VRRM) ("Verra Mobility" or the "Company"), a leading provider of smart mobility technology
About this update from Verra Mobility Corporation
[{"type":"text","content":"MESA, Ariz., Aug. 20, 2021 /PRNewswire/ -- Verra Mobility (NASDAQ: VRRM) (\"Verra Mobility\" or the \"Company\"), a leading provider of smart mobility technology solutions, announces today the closing of its previously communicated, underwritten secondary offering (the \"Offering\") of 8,000,000 shares of its Class A common stock by the Company's principal stockholder, an affiliate of Platinum Equity, LLC (the \"Selling Stockholder\"), at a price to the public of $14.75 per share. The Selling Stockholder also granted the underwriter a 30-day option to purchase up to an additional 1,200,000 shares of the Company's Class A common stock. The Company did not sell any shares in the Offering and did not receive any of the proceeds from the Offering.\n\n \n \n \n \n \n \n\n \nThe Company also announces that pursuant to its recently announced $100 million share repurchase program, it repurchased 6,849,315 shares of its Class A common stock from the Selling Stockholder at a price per share equal to the price at which the underwriter purchased the shares from the Selling Stockholder (the \"Share Repurchase\"). The Company funded the Share Repurchase from existing cash on hand.\nGoldman Sachs acted as the sole underwriter for the Offering. A shelf registration statement on Form S-3 (including a prospectus) relating to these securities has been filed with and declared effective by the Securities and Exchange Commission (the \"SEC\"). The Offering of these securities was made solely by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to the Offering may be obtained by contacting Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone: 866-471-2526, by facsimile: 212-902-9316 or by emailing [email protected]. \nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Verra Mobility\nVerra Mobility is committed to developing and using the latest in technology and data intelligence to help make transportation safer and e...