Jackson Hewitt Tax Service Inc. Announces Pricing of Initial Public Offering
22 Juni 2004 - 4:20AM
PR Newswire (US)
Jackson Hewitt Tax Service Inc. Announces Pricing of Initial Public
Offering PARSIPPANY, N.J., June 21 /PRNewswire-FirstCall/ --
Jackson Hewitt Tax Service Inc. (NYSE:JTX) today announced that the
initial public offering of 37,500,000 shares of its common stock
was priced at $17 per share. All 37,500,000 shares of common stock
are being sold by Cendant Corporation. The underwriters have been
granted an option to purchase up to 5,625,000 additional shares of
common stock from Jackson Hewitt. The common stock has been
approved for listing on the New York Stock Exchange under the
symbol "JTX." As previously announced, Goldman, Sachs & Co. and
J.P. Morgan Securities Inc. are the joint book-running managers of
the offering. The completion of the initial public offering is
scheduled for Friday, June 25, 2004, subject to customary closing
conditions. Jackson Hewitt will not receive any of the proceeds
from the 37,500,000 shares of common stock being sold by Cendant.
Jackson Hewitt will use any proceeds it receives from the exercise
of the underwriters' option to purchase up to 5,625,000 additional
shares of common stock for general corporate purposes, which may
include the repayment of borrowings under its new credit facility
and share repurchases. A copy of the prospectus relating to the
initial public offering may be obtained from Goldman, Sachs &
Co., Prospectus Department, 85 Broad Street, New York, NY 10004
(Telephone: 212-902-1171), or J.P. Morgan Securities Inc.,
Prospectus Department, One Chase Manhattan Plaza, New York, NY
10081 (Telephone: 212-552-5164). 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 the shares of Jackson Hewitt
common stock 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. Jackson Hewitt is the second
largest paid tax return preparer in the United States, with 4,935
franchised and company-owned offices nationwide as of April 30,
2004. Jackson Hewitt is based in Parsippany, New Jersey.
DATASOURCE: Jackson Hewitt Tax Service Inc. CONTACT: Sheila Cort of
Jackson Hewitt Inc., +1-973-496-2702 Web site:
http://www.jacksonhewitt.com/
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