GMS Announces Upsizing and Pricing of Secondary Public Offering of Common Stock
February 22 2017 - 7:55PM
Business Wire
GMS Inc. (NYSE:GMS) (the “Company”), a leading North American
distributor of gypsum wallboard and suspended ceiling systems,
announced today the pricing of an underwritten secondary public
offering of 6,950,000 shares of common stock by certain of the
Company’s existing stockholders, including certain affiliates of
AEA Investors LP (collectively, the “Selling Stockholders”), at a
public offering price of $29.25 per share. The offering includes an
increase of 950,000 shares offered by the Selling Stockholders from
the amount of shares previously announced. Additionally, in
connection with the offering, the Selling Stockholders have granted
to the underwriters a 30-day option to purchase up to 1,042,500
additional shares of common stock, which includes an increase of
142,500 shares from the amount of shares previously announced. The
offering is expected to close on February 28, 2017, subject to the
satisfaction of customary closing conditions.
The Company is not selling any shares in this offering and will
not receive any proceeds from the sale of shares being sold by the
Selling Stockholders in this offering.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC and
RBC Capital Markets, LLC are acting as representatives of the
underwriters and joint book-running managers for the offering.
Robert W. Baird & Co. Incorporated and SunTrust Robinson
Humphrey, Inc. are acting as additional joint book-running managers
for the offering. Raymond James & Associates, Inc., Stephens
Inc. and Wells Fargo Securities are acting as co-managers for the
offering. The offering of these securities is being made only by
means of a prospectus. Copies of the prospectus may be obtained,
when available, from: Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, by telephone at (888) 603-5847 or by email at
barclaysprospectus@broadridge.com; Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue, New
York, New York 10010, by telephone at (800) 221-1037 or by email at
newyork.prospectus@credit-suisse.com; or RBC Capital Markets, LLC,
Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York,
NY 10281-8098, by telephone at (877) 822-4089 or by email at
equityprospectus@rbccm.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
February 22, 2017. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About GMS:
Founded in 1971, GMS operates a network of more than 200
distribution centers across the United States. GMS’s extensive
product offering of wallboard, suspended ceilings systems and
complementary interior construction products is designed to provide
a comprehensive one-stop-shop for our core customer, the interior
contractor who installs these products in commercial and
residential buildings.
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GMS Inc.Investor Relations:678-353-2883ir@gms.com
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