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FreightCar America, Inc. Completes Initial Public Offering Chicago, IL, April 11, 2005 - FreightCar America, Inc. (NASDAQ: RAIL),
formerly operating as Johnstown America, announced today that it completed
its initial public offering of 9,775,000 shares of common stock priced
at $19 per share. The initial public offering consisted of 5,100,000 newly-issued
shares of the Company's common stock and 4,675,000 shares of the Company's
common stock that were sold by the existing stockholders of the Company,
of which 1,275,000 were sold by the existing stockholders of the Company
as a result of the underwriters' exercise in full of their over-allotment
option. Net proceeds to the Company from the initial public offering were
approximately $86 million. The Company did not receive any proceeds from
the sale of shares by the existing stockholders. In the initial public offering, UBS Investment
Bank acted as sole book-running manager and co-lead manager, Jeffries
& Company, Inc. acted as co-lead manager and CIBC World Markets Corp.
acted as a co-manager. FreightCar America manufactures railroad freight cars with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and currently has manufacturing facilities in Danville, Illinois, Roanoke, Virginia, and Johnstown, Pennsylvania.
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