Dollar Thrifty Automotive Group Announces Exercise of Option to Purchase Additional Shares

By: Dollar Thrifty Automotive Group | 0 Shares 66 Reads

TULSA, Okla. // PRNewswire-FirstCall // -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) announced today that the underwriters have exercised in full their option to purchase an additional 862,500 shares of common stock at a public offering price of $19.25 per share. The exercise of the option brings the total shares of common stock to be sold by the Company in the previously announced public offering to 6,612,500 shares.

The Company intends to use the net proceeds from the sale of the 6,612,500 shares, which are expected to be approximately $120 million, for general corporate purposes.

Goldman, Sachs & Co. and J.P. Morgan Securities Inc. are serving as joint book-running managers for the offering.

The shares are being offered pursuant to the Company's effective shelf registration statement on file with the Securities and Exchange Commission. The offering is being made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the SEC's website or by contacting Goldman, Sachs & Co. (Attention: Prospectus Department, 85 Broad Street, New York, New York 10004; telephone: (917) 343-8000; facsimile: (212) 902-9316; email: prospectus-ny@ny.email.gs.com) or J.P. Morgan Securities Inc. (Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: (631) 254-1735).

This press release does not constitute an offer to sell or the solicitation of an offer to buy the common stock, nor shall there be any such offer or solicitation or any sale of the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Dollar Thrifty Automotive Group, Inc.

Dollar Thrifty Automotive Group, Inc. is headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in over 70 countries. Dollar and Thrifty have over 600 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 6,400 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network.

SOURCE: Dollar Thrifty Automotive Group, Inc.

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