MIAMI, May 17 /PRNewswire/ -- Burger King Holdings, Inc. today
announced the pricing of its initial public offering of 25,000,000 shares
of common stock, at a price of $17 per share. The shares will be listed on
the New York Stock Exchange and will trade under the symbol "BKC" beginning
May 18, 2006. The 25,000,000 shares will be sold by the company. The
underwriters have an option to purchase up to an additional 3,750,000
shares from the selling stockholders at the initial public offering price
less the underwriting discount.
The Company expects to receive net proceeds of approximately $393
million from the offering and intends to use the net proceeds for repayment
of $350 million of outstanding debt related to the company's senior secured
credit facility with the balance used for general business purposes. The
Company will not receive any proceeds from a sale of the shares by the
selling stockholders if the underwriters exercise their option to purchase
additional shares. Following this offering, Burger King Holdings, Inc. will
remain majority-owned by the equity sponsor group comprised of Texas
Pacific Group, Bain Capital Partners and the Goldman Sachs Funds.
J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Goldman,
Sachs & Co. and Morgan Stanley & Co. Incorporated have acted as joint
book-running managers for the offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
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.
A copy of the Burger King Holdings, Inc. final prospectus related to
this offering, when available, may be obtained by contacting:
J.P. Morgan Securities Inc.
Distribution & Support Service
Northeast Statement Processing
4 Chase Metrotech Center, CS Level
Brooklyn, NY 11245
Phone: (718) 242-8002
Citigroup Global Markets Inc.
Prospectus Department
140 58th Street
Brooklyn, NY 11220
Phone: (718) 765-6732
Goldman, Sachs & Co.
Prospectus Department
85 Broad Street
New York, NY 10004
Fax: (212) 902-9316 or email at prospectus-ny@ny.email.gs.com
Morgan Stanley & Co. Incorporated
180 Varick Street
New York, NY 10014
E-mail: prospectus@morganstanley.com
About Burger King Holdings, Inc. and Burger King Corporation
The BURGER KING(R) system operates more than 11,100 restaurants in all
50 states and in more than 65 countries and U.S. territories worldwide.
Approximately 90 percent of BURGER KING restaurants are owned and operated
by independent franchisees, many of them family-owned operations that have
been in business for decades. To learn more about Burger King Holdings,
Inc. and Burger King Corporation, please visit the company's Website at
http://www.burgerking.com.
Certain statements made in this news release are forward looking in
nature and, accordingly, are subject to risks and uncertainties. These
forward-looking statements are only predictions based on our current
expectations and projections about future events. Important factors could
cause our actual results, performance or achievements to differ materially
from those expressed or implied by these forward-looking statements. These
factors include, but are not limited to, those discussed in our
Registration Statement on Form S-1 under the caption "Risk Factors."
SOURCE Burger King Holdings, Inc.
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Related links:
http://www.burgerking.com
http://www.prnewswire.com/comp/124650.html /
CONTACT:
Edna Johnson, +1-305-378-7516,
ednajohnson@whopper.com, or Lauren Hammann, +1-305-378-3120,
lhammann@whopper.com, both of BKC Media Relations, or Amy Wagner,
BKC Investor Relations, +1-305-378-3699, awagner@whopper.com, all
for Burger King
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