Summary
Quanta Services, Inc. (PWR) filed an 8-K on December 13, 2004, disclosing a material definitive agreement related to a secondary offering of its common stock. Specifically, on December 9, 2004, the company entered into an Underwriting Agreement for the sale of 3,692,000 shares of common stock by First Reserve Fund IX, L.P. ('First Reserve') at a price of $7.15 per share. It is crucial for investors to note that Quanta Services, Inc. will not receive any proceeds from this offering, as all shares are being offered by First Reserve. This transaction is structured as a 'shelf takedown' from previously filed shelf registration statements with the SEC. The filing primarily serves to announce this agreement and include the Underwriting Agreement as an exhibit.
Key Highlights
- 1Quanta Services entered into an Underwriting Agreement on December 9, 2004.
- 2The agreement facilitates a secondary offering of 3,692,000 shares of common stock.
- 3The offering price is set at $7.15 per share.
- 4All shares are being offered by a selling stockholder, First Reserve Fund IX, L.P.
- 5Quanta Services, Inc. will not receive any proceeds from this stock sale.
- 6The offering is conducted under existing shelf registration statements filed with the SEC.