|The Corporate Executive Board Announces the Pricing of Public Offering of 4,800,000 Shares of Common Stock At $42 Per Share|
|WASHINGTON, D.C. (February 23, 2000) -- The Corporate Executive Board Company (“CEB”) (Nasdaq/NM:EXBD) today announced the pricing of its public offering of 4,800,000 shares of common stock at $42 per share. All of the shares sold were from selling stockholders. The selling stockholders have also granted the underwriters an over-allotment option to purchase an additional 712,000 shares. |
The Company's founder, David G. Bradley, who is not an officer or director of the Company, sold 3, 051,000 million shares. If the over-allotment option is exercised, Mr. Bradley will be selling all of his holdings. Directors, management and employees sold 1,749,000 shares. The Company will not receive any of the proceeds from the offering.
The offering was lead managed by Salomon Smith Barney and co-managed by Donaldson, Lufkin & Jenrette; Friedman Billings Ramsey; Goldman, Sachs & Co.; and Merrill Lynch & Co.
The Corporate Executive Board Company is a leading provider of best practices research and analysis focusing on corporate strategy, operations and general management issues. CEB provides its integrated set of services currently to a membership of 1,480 of the world’s largest and most prestigious corporations, including more than 70% of the Fortune 500. These services are provided on an annual subscription basis and include best practices research studies, executive education seminars, customized research briefs and on-line database access.
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 the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the Prospectus relating to the offering may be obtained from the managing underwriters.