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Arbinet Prices IPO

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12/16/2004
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NEW BRUNSWICK, N.J. -- Arbinet-thexchange, Inc. (Nasdaq: ARBX - News) announced today that its initial public offering of 6,535,405 shares of common stock, 4,233,849 shares of which are being sold by Arbinet and 2,301,556 shares of which are being sold by certain stockholders of Arbinet, has been priced at $17.50 per share. Certain stockholders of Arbinet have also granted the underwriters a 30-day option to purchase up to 980,310 additional shares to cover over-allotments, if any.

The underwriters for the offering are led by Merrill Lynch & Co., acting as sole book-running manager, Lehman Brothers acting as the joint lead manager, with SG Cowen & Co., William Blair & Company and Advanced Equities, Inc., acting as co-managers.

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