Foundation Building Materials Announces Pricing of Secondary Offering of Common Stock by Selling Stockholder
FOUNDATION BUILDING MATERIALS INC (FBM)
Last foundation building materials inc earnings: 2/24 04:50 pm
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Source: Business Wire
SANTA ANA, Calif.--(BUSINESS WIRE)--Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE: FBM), one of the largest specialty distributors of wallboard, suspended ceiling systems and metal framing in North America, today announced the pricing of an underwritten secondary offering of 4,750,000 shares of common stock of the Company by its largest stockholder, an affiliate of Lone Star Fund IX (U.S.), L.P. (the “Selling Stockholder”) at a price to the public of $17.00 per share. The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of common stock of the Company. The Company will not receive any of the proceeds from this offering, but will bear the costs associated with the sale of the shares, other than underwriting discounts and commissions. No shares are being sold by the Company. The offering is expected to close on September 24, 2019, subject to customary closing conditions.BofA Merrill Lynch and RBC
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