Hydrofarm Holdings Group Announces Launch of Initial Public Offering
December 01 2020 - 4:30PM
Hydrofarm Holdings Group, Inc. (“Hydrofarm”), a leading independent
branded hydroponics company with a comprehensive distribution
platform, today announced the commencement of an initial public
offering of 8,666,667 shares of its common stock. The initial
public offering price is expected to be between $14.00 and $16.00
per share. Hydrofarm expects to grant the underwriters a 30-day
option to purchase up to an additional 1,300,000 shares of its
common stock. Hydrofarm has applied to list its shares of common
stock on the Nasdaq Global Market under the symbol “HYFM.”
J.P. Morgan and Stifel are acting as lead
book-running managers for the offering and as representatives of
the underwriters. Deutsche Bank Securities, Truist Securities and
William Blair are acting as book-running managers for the
offering.
The offering will be made only by means of a
prospectus. Copies of the preliminary prospectus, when available,
may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
by email at prospectus-eq_fi@jpmorgan.com or by telephone at (866)
803-9204; or Stifel, Nicolaus & Company, Incorporated,
Attention: Prospectus Department, One Montgomery Street, Suite
3700, San Francisco, CA 94104 or by telephone at (415) 364-2720 or
by email at syndprospectus@stifel.com.
A registration statement relating to these
securities has been filed with the U.S. Securities and Exchange
Commission but has not yet become effective. These securities may
not be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective. This press release
does 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
Hydrofarm Holdings Group,
Inc.
Hydrofarm is a leading independent distributor
and manufacturer of hydroponics equipment and supplies for
controlled environment agriculture, including high-intensity grow
lights, climate control solutions, and growing media, as well as a
broad portfolio of innovative and proprietary branded products. For
over 40 years, Hydrofarm has helped growers make growing easier and
more productive. The Company’s mission is to empower growers,
farmers and cultivators with products that enable greater quality,
efficiency, consistency and speed in their grow projects.
Contacts:
Media ContactCory Ziskind /
ICR(646) 277-1232Cory.Ziskind@icrinc.com
Investor ContactFitzhugh Taylor
/ ICRir@hydrofarm.com
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