Today 7:09 PM ET (GlobeNewswire)
ePlus
inc. (Nasdaq:PLUS) today announced the results of its underwritten
public secondary offering (the "Offering") of common stock by existing
stockholders, as well as the concurrent share repurchase. The Selling
Stockholders, as identified in the prospectus supplement relating to
this Offering, entered into an underwriting agreement to sell 1,573,913
shares to the underwriters named in the underwriting agreement at a
price to the public of $50.00 per share. The Selling Stockholders in the
Offering have granted the underwriters an option to purchase up to
236,087 additional shares at the public offering price, less the
underwriting discounts and commissions. All of the shares of common
stock offered are being sold by Selling Stockholders. ePlus will not
receive any proceeds from the sale of shares by the Selling Stockholders
in this Offering, including from any exercise by the underwriters of
their option to purchase additional shares. The Offering is expected to
close May 5, 2014, subject to the satisfaction of customary closing
conditions.
Subject to completion of the Offering,
ePlus will repurchase from the underwriters 400,000 of the 1,573,913
shares of common stock being sold by the Selling Stockholders. ePlus'
per-share purchase price for the repurchased shares will be the same as
the per-share purchase price payable by the underwriters to the Selling
Stockholders.
Stifel and William Blair are the joint book running managers, and Canaccord Genuity is the co-lead manager of the Offering.
The Offering is being made pursuant to an
effective shelf registration statement, including a prospectus and a
prospectus supplement related to the Offering, filed by ePlus with the
SEC. Before you invest, you should read the prospectus in that
registration statement, the prospectus supplement to which the Offering
relates and the other documents incorporated by reference therein, which
ePlus has filed with the SEC, for more complete information about ePlus
and the Offering. You may get these documents for free by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the
prospectus supplement and accompanying prospectus relating to the
Offering, when available, may be obtained from: Stifel, Attention:
Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104,
by calling (415) 364-2720 or by emailing SyndProspectus@stifel.com or
William Blair & Company, L.L.C., 222 West Adams Street, Chicago, IL
60606, Attention: Prospectus Department, by telephone at (800) 621-0687,
or by email at prospectus@williamblair.com.
This press release shall not constitute an
offer to sell or a solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state or
jurisdiction. Any offer or sale of these securities will be made only
by means of a prospectus, including a prospectus supplement, forming a
part of the related registration statement. Nothing in this press
release should be construed as an offer to sell, or the solicitation of
an offer to buy, any securities subject to the concurrent stock
repurchase.
About ePlus inc.
ePlus is a leading integrator of technology
solutions. ePlus enables organizations to optimize their IT
infrastructure and supply chain processes by delivering complex
information technology solutions, which may include managed and
professional services and products from top manufacturers, flexible
financing, and proprietary software. Founded in 1990, ePlus has more
than 900 associates serving commercial, state, municipal, and education
customers nationally. The Company is headquartered in Herndon, VA. For
more information, visit www.eplus.com, call 888-482-1122, or email
info@eplus.com. Connect with ePlus on Facebook at
www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlusinc.
ePlus and ePlus products referenced herein
are either registered trademarks or trademarks of ePlus inc. in the
United States and/or other countries. The names of other companies and
products mentioned herein may be the trademarks of their respective
owners.
Statements in this press release that are
not historical facts may be deemed to be "forward-looking statements."
Actual and anticipated future results may vary materially due to certain
risks and uncertainties, including, without limitation, the Company's
ability to consummate the Offering and share repurchase; possible
adverse effects resulting from financial market disruption and general
slowdown of the U.S. economy such as ePlus' current and potential
customers delaying or reducing technology purchases; increasing credit
risk associated with the Company's customers and vendors; reduction of
vendor incentive programs; restrictions on the Company's access to
capital necessary to fund its operations; possible changes to the
Company's estimated revenue and earnings per share upon completion of
its financial closing procedures and audit by the Company's independent
registered public accounting firm; the Company's ability to consummate
and integrate acquisitions; the possibility of goodwill impairment
charges in the future; significant adverse changes in, reductions in, or
losses of relationships with major customers or vendors; the demand for
and acceptance of, the Company's products and services; the Company's
ability to adapt its services to meet changes in market developments;
the Company's ability to implement comprehensive plans to achieve
customer account coverage, cost containment, asset rationalization,
systems integration and other key strategies; the Company's ability to
secure its electronic and other confidential information; future growth
rates in the Company's core businesses; the Company's ability to protect
its intellectual property; the impact of competition in the Company's
markets; the possibility of defects in the Company's products or catalog
content data; the Company's ability to adapt to changes in the IT
industry and/or rapid change in product standards; the Company's ability
to realize its investment in leased equipment; the Company's ability to
hire and retain sufficient qualified personnel; changes to our senior
management team; and other risks or uncertainties detailed in the
Company's reports filed with the Securities and Exchange Commission.
All information set forth in this press release is current as of the
date of this release and ePlus undertakes no duty or obligation to
update this information.
Free Writing Prospectus
Dated April 29, 2014
Filed Pursuant to Rule 433
Registration Statement No. 333-193457
 | CONTACT: Kleyton Parkhurst, SVP
ePlus inc.
kparkhurst@eplus.com
703-984-8150
| |
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