OMAHA, Neb., Sept 26, 2005 /PRNewswire-FirstCall via COMTEX/ -- West Corporation (Nasdaq: WSTC) (the "Company") today announced that it has filed with the Securities and Exchange Commission a preliminary prospectus supplement relating to a public offering by Gary and Mary West, the co-founders and majority stockholders of the Company, of 8,700,000 shares of common stock owned by them. The selling stockholders anticipate granting an option to the underwriters to purchase an additional 1,300,000 shares owned by them to cover any over-allotments. The Wests' sale of these shares is for the purpose of diversifying a portion of their holdings, and, immediately following the offering, they will continue to own over 50% of the outstanding shares of common stock of the Company. The Company will not receive any proceeds from the offering.
The Company has also determined not to proceed with the previously contemplated offering of convertible notes.
Goldman, Sachs & Co. will act as lead manager and sole book-runner of the offering. Robert W. Baird & Co., William Blair & Company, Credit Suisse First Boston and Banc of America Securities LLC will be the co-managers of the offering.
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 state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Offers for the securities will be made only by means of a prospectus supplement forming part of the registration statement.
The preliminary prospectus supplement relating to the offering can be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, phone: 212-902-1171, fax 212-902-3000.
About West Corporation
West Corporation provides business process outsourcing services in three segments: communication services (including dedicated agent, shared agent, automated and business-to-business services), conferencing services and receivables management.
Founded in 1986 and headquartered in Omaha, Nebraska, West has a team of approximately 26,000 employees based in North America, Europe and Asia.
This news release contains forward-looking statements within the meaning of the Federal securities laws. You can identify forward-looking statements by the use of such words as "will," "expect," "plan," "believe," "estimate," "intend," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Our results or actions could differ materially from the expectations expressed in these statements. Further information regarding the factors that could cause actual results or actions to differ from our expectations can be found in documents filed by the company with the SEC, including our annual report on Form 10-K for the year ended December 31, 2004, subsequently filed quarterly reports on Form 10-Q and the preliminary prospectus relating to this offering.
SOURCE West Corporation
West Corporation Investor Relations, +1-402-963-1500
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