(Source: Business Wire)

RailAmerica, Inc. (NYSE:RA) today announced its initial public offering
of 10,500,000 primary shares of common stock, as well as the offering of
11,500,000 secondary shares of common stock by RR Acquisition Holding
LLC, an entity wholly-owned by certain private equity funds managed by
an affiliate of Fortress Investment Group LLC. The shares were priced at
$15 per share.
In connection with the offering, RailAmerica, Inc. granted the
underwriters a 30-day option to purchase up to 1,575,000 additional
shares of common stock, and RR Acquisition Holding LLC granted the
underwriters the option to purchase up to 1,725,000 additional shares of
common stock, to cover over-allotments, if any.
The shares will begin trading on October 13, 2009 on the New York Stock
Exchange under the symbol "RA." The offering is expected to close on
October 16, 2009.
J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Deutsche
Bank Securities Inc. and Morgan Stanley & Co. Incorporated are acting as
representatives for the underwriters of this offering.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission. Copies of the
prospectus related to the offering may be obtained from the prospectus
department of J.P. Morgan Securities Inc. at 4 Chase Metrotech Center,
CS Level, Brooklyn, New York 11245, Attention Prospectus Library (Tel:
718-242-8002); or Citigroup Global Markets Inc. at Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn,
New York 11220 (Tel: 800-831-9146).
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
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
RailAmerica, Inc. is the largest owner and operator of short line and
regional freight railroads in North America, measured in terms of total
track-miles, operating a portfolio of 40 individual railroads with
approximately 7,500 miles of track in 27 U.S. states and three Canadian
provinces. Its railroad portfolio represents an important component of
North America's transportation infrastructure, carrying large quantities
of freight for a highly diverse customer base.
Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 including, but not necessarily limited to, statements
regarding the closing of the offering, the anticipated issuance of
shares by RailAmerica, Inc. and other statements that are not historical
facts. These statements are based on management's current expectations
and beliefs and are subject to a number of factors that could lead to
actual results materially different from those described in the
forward-looking statements; RailAmerica, Inc. can give no assurance that
its expectations will be attained. Factors that could cause actual
results to differ materially from RailAmerica, Inc.'s expectations
include, but are not limited to, (a) customary closing conditions and
(b) such other risk factors as may be discussed in the final prospectus
relating to the offering and subsequent reports filed with the
Securities and Exchange Commission. Such forward-looking statements
speak only as of the date of this press release. RailAmerica, Inc.
expressly disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect
any change in RailAmerica, Inc.'s expectations with regard thereto or
change in events, conditions or circumstances on which any statement is
based.
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