Advanced Drainage Systems Announces Pricing Of Initial Public Offering Of Common Stock

ADS intends to use the net proceeds from this offering to fund repayment of existing indebtedness and general corporate purposes. ADS will not receive any of the proceeds from the sale of shares of common stock by the selling stockholders.

Barclays and Deutsche Bank Securities are acting as representatives of the underwriters and Barclays, Deutsche Bank Securities, Citigroup and RBC Capital Markets are acting as joint book-running managers for the proposed offering. BofA Merrill Lynch, Fifth Third Securities and PNC Capital Markets LLC are acting as co-managers for the proposed offering.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). 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 these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.

Advanced Drainage Systems (ADS) is the leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. The Company has established a leading position in many of these end markets by leveraging its national sales and distribution platform, its overall product breadth and scale and its manufacturing excellence. Founded in 1966, the Company operates a global network of 58 manufacturing plants and 28 distribution centers.

This press release contains forward-looking statements including statements relating to the proposed initial public offering. These statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding the Company’s business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission.

SOURCE Advanced Drainage Systems, Inc.