Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Beacon shares to be offered by CD&R affiliate

EditorNatashya Angelica
Published 01/18/2024, 10:05 PM
Updated 01/18/2024, 10:05 PM
© Reuters.

HERNDON, Va. - Beacon (NASDAQ: BECN), a distributor of building materials, disclosed the pricing of a secondary public offering of 5,218,134 shares of its common stock. The shares are being offered by CD&R Boulder Holdings, L.P., associated with private equity firm Clayton, Dubilier & Rice, LLC. RBC Capital Markets is serving as the exclusive underwriter for the offering, which is slated to close on January 22, 2024, subject to customary closing conditions.

The offering is consequential for the selling stockholder, who will receive all proceeds and will no longer hold Beacon common stock post-offering. Beacon itself is not selling any shares and will not benefit financially from the transaction, but will bear the costs associated with the sale, excluding underwriting discounts, commissions, and certain expenses of the selling stockholder.

Beacon’s shares, which last traded at $84.21 on the Nasdaq Global Select Market, are proposed to be sold in varying transactions at market prices, or at prices related to the market. The offering is being made as part of a shelf registration statement on Form S-3ASR under the Securities Act of 1933.

Potential investors can obtain copies of the prospectus supplement and the accompanying prospectus by contacting RBC Capital Markets, or by visiting the SEC's website. These documents provide more complete information about Beacon and the offering.

The press release included forward-looking statements under the Private Securities Litigation Reform Act of 1995, indicating management's expectations for Beacon's future. However, actual results may differ due to various factors detailed in Beacon's SEC filings.

Beacon, established in 1928, is a Fortune 500 company that operates across the United States and Canada. It provides roofing materials and other building products to a broad customer base and offers digital account management through Beacon PRO+.

The information in this article is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.