© Reuters.
HERNDON, Va. – Beacon (NASDAQ: BECN), a distributor of constructing supplies, disclosed the pricing of a secondary public providing of 5,218,134 shares of its widespread inventory. The shares are being provided by CD&R Boulder Holdings, L.P., related to personal fairness agency Clayton, Dubilier & Rice, LLC. RBC Capital Markets is serving because the unique underwriter for the providing, which is slated to shut on January 22, 2024, topic to customary closing situations.
The providing is consequential for the promoting stockholder, who will obtain all proceeds and can now not maintain Beacon widespread inventory post-offering. Beacon itself just isn’t promoting any shares and won’t profit financially from the transaction, however will bear the prices related to the sale, excluding underwriting reductions, commissions, and sure bills of the promoting stockholder.
Beacon’s shares, which final traded at $84.21 on the Nasdaq International Choose Market, are proposed to be offered in various transactions at market costs, or at costs associated to the market. The providing is being made as a part of a shelf registration assertion on Kind S-3ASR underneath the Securities Act of 1933.
Potential buyers can receive copies of the prospectus complement and the accompanying prospectus by contacting RBC Capital Markets, or by visiting the SEC’s web site. These paperwork present extra full details about Beacon and the providing.
The press launch included forward-looking statements underneath the Non-public Securities Litigation Reform Act of 1995, indicating administration’s expectations for Beacon’s future. Nonetheless, precise outcomes could differ attributable to varied components detailed in Beacon’s SEC filings.
Beacon, established in 1928, is a Fortune 500 firm that operates throughout america and Canada. It supplies roofing supplies and different constructing merchandise to a broad buyer base and affords digital account administration by Beacon PRO+.
The knowledge on this article relies on a press launch assertion.
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