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CDW Prices Secondary Offering and Increases Transaction Size
VERNON HILLS, Ill. August 09, 2001 - CDW Computer Centers, Inc. (Nasdaq: CDWC) today announced that it has commenced its secondary offering at a price of $40.00 per share. The total number of shares sold in this offering is 9,250,000, an increase of 500,000 shares from the previously announced transaction size. The offering is being sold by the following shareholders: 4,600,500 shares by Michael P. Krasny, the Company's founder and former Chief Executive Officer and current Chairman Emeritus; 1,600,000 shares by the Circle of Service, L.L.C.; 613,500 shares by the Circle of Service Foundation; 2,000,000 shares by Gregory C. Zeman, the Company's Vice Chairman; and 436,000 shares by Daniel B. Kass, the Company's Executive Vice President-Sales. Mr. Krasny and Mr. Zeman have also granted the underwriters a 30-day over-allotment option to purchase from them an additional total of up to 1,312,500 shares of common stock.
All shares in the offering are being sold by the selling shareholders and the total number of shares outstanding will not change as a result of the offering. Mr. Zeman and Mr. Kass are acquiring the shares being sold by them pursuant to the exercise of stock options granted to them under the MPK Stock Option Plan. The MPK Stock Option Plan was established by Mr. Krasny in 1992, pursuant to which he granted Mr. Zeman and Mr. Kass nonforfeitable options to purchase shares of CDW common stock owned by him. CDW is not selling any shares and will not receive any of the proceeds from the sales by the selling shareholders. After the offering is complete, assuming the over-allotment option is not exercised, the selling shareholders will beneficially own a total of approximately 30 million shares of the Company's common stock, or 34.9 percent of the total current outstanding common shares.
The offering is being lead-managed by Morgan Stanley & Co. Incorporated. Additional underwriters include William Blair & Company, L.L.C., Goldman, Sachs & Co., Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc. Copies of the prospectus may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036.
For more information About CDW:
Visit CDW on the Internet at http://www.cdw.com
Contact CDW Media Relations via the Internet at mediarelations@cdw.com
Or by telephone at 847.371.5048
Contact CDW Investor Relations via the Internet at investorrelations@cdw.com
Or by telephone at 847.419.8234
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