ABS Capital Partners and Norwest Equity Partners Offering 3,490,000
ARLINGTON, Va.--(BUSINESS WIRE)--Jun. 6, 2013--
Rosetta Stone Inc. (NYSE:RST), a leading provider of technology-based
language-learning solutions (“Rosetta Stone”), today announced the
pricing of its previously announced public offering of shares of common
stock. An aggregate of 3,500,000 shares are being offered at a price to
the public of $16.00 per share. Of the 3,500,000 shares of common stock
being offered, the selling stockholders, ABS Capital Partners IV Trust
and Norwest Equity Partners VIII, LP, are offering 3,490,000 shares of
common stock and Rosetta Stone is offering 10,000 shares. The selling
stockholders also granted the underwriters a 30-day option to purchase
up to 525,000 additional shares of common stock. The shares will be sold
pursuant to an effective shelf registration statement on Form S-3 that
was previously filed with the Securities and Exchange Commission. The
offering is expected to close on June 11, 2013, subject to customary
Rosetta Stone intends to use the net proceeds from the offering of its
10,000 shares to pay for the fees and expenses of the company incurred
in connection with the offering. Rosetta Stone will not receive any
proceeds from the sale of the shares of common stock offered by the
Robert W. Baird & Co. Incorporated and William Blair & Company, L.L.C.
are joint book-running managers for the offering.
The offering may be made only by means of a prospectus supplement and
the accompanying prospectus, copies of which may be obtained by sending
a request to: Robert W. Baird & Co. Incorporated, 777 East Wisconsin
Avenue, 28th Floor, Milwaukee, Wisconsin 53202-5391, or by calling
toll-free 1-800-792-2473; or to William Blair & Company, L.L.C.,
Attention: Prospectus Department, 222 West Adams Street, Chicago,
Illinois 60606, or by calling toll-free 1-800-621-0687. Electronic
copies of the prospectus and the prospectus supplement are available on
the Securities and Exchange Commission’s website at www.sec.gov.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sales of the securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
About Rosetta Stone
Rosetta Stone Inc. provides cutting-edge interactive technology that is
changing the way the world learns languages. The company’s proprietary
learning techniques—acclaimed for their power to unlock the natural
language-learning ability in everyone—are used by schools, businesses,
government organizations and millions of individuals around the world.
Rosetta Stone offers courses in 30 languages, from the most commonly
spoken (like English, Spanish and Mandarin) to the less prominent
(including Swahili, Swedish and Tagalog). The company was founded in
1992 on the core beliefs that learning to speak a language should be a
natural and instinctive process, and that interactive technology can
activate the language immersion method powerfully for learners of any
age. Rosetta Stone is based in Arlington, VA, and has offices in
Harrisonburg, VA, Boulder, CO, Austin, TX, San Francisco, CA, Seattle,
WA, Tokyo, Seoul, London, Dubai and Sao Paulo.
“Rosetta Stone” is a registered trademark or trademark of Rosetta Stone
Ltd. in the United States and other countries.
Source: Rosetta Stone Inc.
Rosetta Stone Inc.
Steve Somers, CFA