November 18, 2009 (FinancialWire) — Standard Parking Corp. (NASDAQ: STAN) announced the closing of the previously disclosed secondary offering of 6,592,906 shares of its common stock at $16.00 per share by GSO Special Situations Fund LP, GSO Special Situations Overseas Master Fund Ltd., GSO Special Situations Overseas Benefit Plan Fund Ltd., GSO Capital Opportunities Fund LP and CML VII, LLC.

Credit Suisse Securities LLC and William Blair & company, L.L.C. acted as joint book-running managers and underwriters for the offering. The underwriters have a 30-day option to purchase up to an additional 988,936 shares from the selling stockholders to cover over-allotments. Standard Parking did not receive any proceeds from the offering and will not receive any proceeds from the sale of shares pursuant to any exercise of the underwriters’ over-allotment option.

The shares sold in the offering represent approximately 43% of Standard Parking’s common stock currently outstanding and reduced the selling stockholders’ collective ownership interest in Standard Parking from approximately 49% to 6%. Assuming the exercise of the over-allotment option in full, the selling stockholders will cease to own any shares of Standard Parking’s common stock. The total number of shares of common stock outstanding did not change as a result of the offering.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279). Tuesday’s issued reports and/or recorded webcasts include Cavico Corp. (OTCBB: CVIC), Thornburg Ltd. Term Income Fund (NASDAQ: THIFX), Apache Corp. (NYSE: APA), Baytex Energy Trust (NYSE: BTE), Citizens, Inc. (NYSE: CIA), Scottish Oriental Smaller Companies Trust PLC (OTC: SCSHF) (London Stock Exchange: SOST), JPMorgan Elect Plc (London Stock Exchange: JPE) and Solitario Exploration & Royalty Corp. (AMEX: XPL).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.