BFS Announces Public Offering of Common Stock
DALLAS—Builders FirstSource, Inc. today announced the commencement of a public offering of 11,000,000 shares of its common stock, including 8,000,000 shares to be sold by the Company and 3,000,000 shares to be sold by Warburg Pincus Private Equity IX, L.P. In connection with the offering, the Company and the Selling Stockholder have each granted the underwriters an option for 30 days to purchase up to an additional 1,200,000 and 450,000 shares, respectively. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the size or terms of the offering.
The Company intends to use the net proceeds from this offering, together with borrowings under a new term loan facility and new ABL facility and/or proceeds from a new unsecured notes offering, if completed, to finance the acquisition of ProBuild Holdings LLC, to repay certain of its and ProBuild’s existing indebtedness and to pay related transaction fees and expenses. In the event the acquisition of ProBuild does not close, the Company intends to use the net proceeds from this offering (and the net proceeds from any exercise of the underwriters’ option to purchase additional shares of common stock) for general corporate purposes, including for expenses related to the acquisition of ProBuild. The Company will not receive any proceeds from the sale of shares to be offered by the Selling Stockholder.
Credit Suisse, Deutsche Bank Securities and Citigroup are acting as joint book-running managers for the offering. The offering will be made pursuant to an existing effective registration statement, previously filed with the Securities and Exchange Commission. The offering will be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained on the SEC’s website at www.sec.gov.
Source: Builder’s FirstSource, Inc.