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Wabtec Announces Pricing of Upsized Public Offering by selling stockholder

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WILMERDING, Pa., May 01, 2019 (GLOBE NEWSWIRE) -- Wabtec Corporation (NYSE: WAB) (“Wabtec”) today announced the pricing of an underwritten secondary offering of 22,000,000 shares of Wabtec common stock at a public offering price of $73.50 by General Electric Company (“GE”), as the sole selling stockholder. The offering is expected to close on or about May 6, 2019, subject to the satisfaction of customary closing conditions.  The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares.  Wabtec will not receive any proceeds from the sale of the shares by the selling stockholder in this offering.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers.  BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offering is being made under an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”) on April 30, 2019. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone (toll-free): 866-471-2526.

About Wabtec Corporation

Wabtec Corporation is a leading global provider of equipment, systems, digital solutions and value-added services for freight and transit rail. Drawing on nearly four centuries of collective experience across Wabtec, GE Transportation and Faiveley Transport, the company has unmatched digital expertise, technological innovation, and world-class manufacturing and services, enabling the digital-rail-and-transit ecosystems. Wabtec is focused on performance that drives progress, creating transportation solutions that move and improve the world. The freight portfolio features a comprehensive line of locomotives, software applications and a broad selection of mission-critical controls systems, including Positive Train Control (PTC). The transit portfolio provides highly-engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. Along with its industry-leading portfolio of products and solutions for the rail and transit industries, Wabtec is a leader in mining, marine and industrial solutions. Wabtec has approximately 27,000 employees in facilities throughout the world.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking” statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding the secondary offering by GE. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Wabtec undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Wabtec Media Contact
Deia Campanelli / Deia.Campanelli@Wabtec.com / 773-297-0482

Wabtec Investor Contacts
Tim Wesley / Twesley@Wabtec.com / 412-825-1543
Kristine Kubacki, CFA / Kristine.Kubacki@wabtec.com / 412-450-2033

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