As a result of the exercise of this option, TyCom will receive additional net proceeds of $278,754,776 and will have raised total net proceeds of $2,132,870,000 from its initial public offering after deducting the underwriting discount and offering expenses. Including the sale of the over-allotment shares, a total of 70,300,000 voting common shares will have been offered and sold in the offering, representing approximately 14% of the total shares outstanding. TyCom's parent company, Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC), retains approximately 86% of the total shares outstanding.
Joint book running managers for the offering were Goldman, Sachs & Co. and Salomon Smith Barney, with Merrill Lynch & Co. as joint lead manager.
A registration statement for these securities was filed with, and declared effective by, the U.S. 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 these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Note: All figures in US dollars
ABOUT TYCOM LTD.
TyCom Ltd. (NYSE: TCM) is a leading independent provider of transoceanic fiber optic systems and services, having designed, engineered, manufactured and installed over 300,000 kilometers of undersea cable.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC) is a diversified manufacturing and service company. Tyco is the world's largest manufacturer and servicer of electrical and electronic components and undersea telecommunications systems; and the world's largest manufacturer, installer, and provider of fire protection systems and electronic security services. It has strong leadership positions in disposable medical products, plastics, and adhesives; and is the largest manufacturer of flow control valves. The Company operates in more than 80 countries and had 1999 revenues of $22.5 billion.