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Virgin Trains USA LLC Announces Launch of Initial Public Offering
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Virgin Trains USA LLC Announces Launch of Initial Public Offering

NEW YORK–(BUSINESS WIRE)–Virgin Trains USA LLC (NASDAQ: VTUS) (“Virgin Trains” or the “Company”)
announced today an initial public offering of 28,334,000 shares of
common stock (the “shares”), pursuant to a registration statement on
Form S-1 (including a prospectus) previously filed with the Securities
and Exchange Commission (the “SEC”). The current expected initial public
offering price is between $17.00 and $19.00 per share. In addition,
Virgin Trains intends to grant the underwriters a 30-day option to
purchase up to an additional 4,250,100 shares at the initial public
offering price, less underwriting discounts and commissions. The shares
will be listed on the Nasdaq Global Select Market (the “Nasdaq”) under
the ticker symbol “VTUS.” Prior to the start of trading on the Nasdaq,
Virgin Trains USA LLC will be converted to a Delaware corporation, which
will be named Virgin Trains USA Inc.

Barclays, J.P. Morgan and Morgan Stanley are acting as lead book-running
managers for the proposed offering. Additional book-running managers are
BofA Merrill Lynch and Allen & Company LLC. Co-managers are JMP
Securities, Raymond James and Stephens Inc.

The offering of these securities will be made only by means of a
prospectus that meets the requirements of Section 10 of the Securities
Act of 1933. When available, a copy of the preliminary prospectus may be
obtained from:

Barclays Capital Inc.
Attention: Prospectus Department
Broadridge Financial Solutions
1155 Long Island Avenue
NY 11717
Telephone: (888) 603-5847

J.P. Morgan Securities LLC
Attention: Prospectus Department
Broadridge Financial Solutions
1155 Long Island Avenue,
NY 11717
Telephone: (866) 803-9204

Morgan Stanley & Co. LLC
Attention: Prospectus Department
Varick Street, 2nd Floor
New York, NY 10014

Important Information

A registration statement, including a prospectus which is preliminary
and subject to completion, relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. The registration statement may
be obtained free of charge at the SEC’s website at
under “Virgin Trains USA LLC.” 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 jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.

About Virgin Trains USA LLC

Launched in 2018, Virgin Trains USA is the only privately owned and
operated intercity passenger rail service in the United States.
Providing fast, efficient, hospitality driven transportation featuring
the latest in customer-friendly amenities, Virgin Trains USA currently
operates in Florida between Miami, Fort Lauderdale and West Palm Beach,
with plans to expand into Orlando and Tampa. The Company recently
announced that it intends to begin construction in 2019 on a new express
service connecting Las Vegas to Southern California.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent the Company’s expectations or beliefs concerning
future events, and it is possible that the results described in this
press release will not be achieved. These forward-looking statements are
subject to risks, uncertainties and other factors, many of which are
outside of the Company’s control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements as a prediction of actual results.

Any forward-looking statement speaks only as of the date on which it is
made, and, except as required by law, the Company does not undertake any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. New factors
emerge from time to time, and it is not possible for the Company to
predict all such factors. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements in the prospectus included in the registration
statement filed with the SEC in connection with the Company’s initial
public offering, which could cause its actual results to differ
materially from those contained in any forward-looking statement.


Anna Feiner – DKC New York

Ali Soule
(305) 521-4853

Damian Irizarry – DKC New York

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