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Stock Building Supply Closes Initial Public Offering

Stock Building Supply closed its previously announced underwritten initial public offering of 7 million shares of its common stock at a price to the public of $14 per share.

The company sold 4,411,765 shares and certain selling stockholders sold 2,588,235 shares. In connection with the initial public offering, the underwriters purchased an additional 1,050,000 shares of common stock from certain selling stockholders. As a result, the total initial public offering size was 8,050,000 shares.

Stock Building Supply received proceeds, net of underwriting discounts and commissions, of approximately $57.4 million from the offering, which it plans to use to pay approximately $46.2 million of the outstanding balances under the revolving line of credit under its secured credit agreement and to pay fees and expenses related to the offering.

About Amanda Bell

Amanda Bell was an assistant editor of Hardware Retailing and NRHA. Amanda regularly visited with home improvement retailers across the country and attended industry events and seminars. She earned a degree in magazine journalism from Ball State University and has received honors for her work for Hardware Retailing from the Association of Marketing and Communication Professionals.

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