HERNDON,
Va., Jan. 18, 2024 /PRNewswire/ -- Beacon
(NASDAQ: BECN) ("Beacon") announced today the commencement of an
underwritten secondary public offering of 5,218,134 shares of
Beacon's common stock by CD&R Boulder Holdings, L.P., an entity
affiliated with Clayton, Dubilier & Rice, LLC. RBC Capital
Markets is acting as the sole underwriter in the registered public
offering of those shares.
Following the completion of this offering, the selling
stockholder will not hold any shares of Beacon common stock. Beacon
is not selling any shares of common stock and will not receive any
proceeds from the offering. The total number of Beacon's shares
outstanding will not change as a result of the offering.
The last reported sale price on the Nasdaq Global Select Market
of Beacon common stock on January 17,
2024 was $84.12 per share. RBC
Capital Markets proposes to offer for sale the shares of Beacon
common stock from time to time in one or more transactions on the
Nasdaq Global Select Market, in the over-the-counter market,
through negotiated transactions or otherwise at market prices
prevailing at the time of sale, at prices related to prevailing
market prices or at negotiated prices, subject to receipt and
acceptance by it and subject to its right to reject any order in
whole or in part.
The offering of these shares is being conducted as a public
offering pursuant to Beacon's effective shelf registration
statement on Form S-3ASR under the Securities Act of 1933, as
amended. The proposed offering will be made only by means of a
prospectus and prospectus supplement that will form part of the
effective registration statement relating to the offering.
Information about the offering is available in the preliminary
prospectus supplement being filed today with the U.S. Securities
and Exchange Commission (the "SEC"). Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
the offering, and the final prospectus supplement, when available,
may be obtained by contacting RBC Capital Markets, LLC, Attention:
Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York 10281, or by telephone at
(877) 822-4089, or by email at equityprospectus@rbccm.com or by
visiting the SEC's website located at www.sec.gov. You should
read the preliminary prospectus supplement and the accompanying
prospectus and other documents Beacon has filed with the SEC for
more complete information about Beacon and this offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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.
Forward-Looking Statements
This press release contains information about management's view
of Beacon's future expectations, plans and prospects that
constitute forward-looking statements for purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including, but not limited to, those set forth
in the "Risk Factors" section of Beacon's latest Form 10-K and
subsequent filings with the SEC. In addition, the forward-looking
statements included in this press release represent Beacon's views
as of the date of this press release and these views could change.
However, while Beacon may elect to update these forward-looking
statements at some point, Beacon specifically disclaims any
obligation to do so, other than as required by federal securities
laws. These forward-looking statements should not be relied upon as
representing Beacon's views as of any date subsequent to the date
of this press release.
About Beacon
Founded in 1928, Beacon is a Fortune 500, publicly traded
distributor of building products, including roofing materials and
complementary products, such as siding and waterproofing. The
company operates over 500 branches throughout all 50 states in the
U.S. and 6 provinces in Canada.
Beacon serves an extensive base of nearly 100,000 customers,
utilizing its vast branch network and diverse service offerings to
provide high-quality products and support throughout the entire
business lifecycle. Beacon offers its own private label brand,
TRI-BUILT®, and has a proprietary digital account management suite,
Beacon PRO+, which allows customers to manage their businesses
online. Beacon's stock is traded on the Nasdaq Global Select Market
under the ticker symbol BECN. To learn more about Beacon, please
visit www.becn.com.
INVESTOR CONTACT
Binit Sanghvi
VP, Capital Markets and Treasurer
Binit.Sanghvi@becn.com
972-369-8005
MEDIA CONTACT
Jennifer Lewis
VP, Communications and Corporate Social Responsibility
Jennifer.Lewis@becn.com
571-752-1048
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SOURCE Beacon Roofing Supply, Inc.