- Floor & Decor Holdings (NYSE:FND) is off 5.5% after hours after launching a secondary offering of 9M shares to be sold by certain stockholders.
- Underwriters for the company's recent IPO (of 10.15M shares) are waiving lock-up restrictions with regard to these shares, and will replace with new 90-day lock-ups for officers, directors and certain other stockholders.
- That's over $355M at today's closing price. Underwriters will have a 30-day greenshoe option to buy up to 1.35M shares from the stockholders. The company's not selling shares and won't see any proceeds.
- BofA Merrill Lynch, Barclays (LON:BARC), Credit Suisse (SIX:CSGN), UBS, Goldman Sachs (NYSE:GS), Jefferies, Piper Jaffray and Wells Fargo (NYSE:WFC) Securities are joint book-runners.
- Along with the offering notice, the company posted preliminary estimates for its quarter: net sales of $342M-$344M (above consensus for $334.4M), EPS of $0.19-$0.20 (vs. consensus for $0.18), and EBITDA of $41.7M-$43.7M (above an expected $41.2M).
- It expects comparable-store sales growth of about 14.7%, vs. a year-ago 22.6%.
- Now read: Gap named top specialty retail pick at J.P. Morgan; shares +10% in two days
Original article