Hydrofarm Holdings Group Announces Pricing of Initial Public Offering
December 09 2020 - 05:42PM
Hydrofarm Holdings Group, Inc. (“Hydrofarm”), a leading independent
branded hydroponics company with a comprehensive distribution
platform, today announced the pricing of its initial public
offering of 8,666,667 shares of common stock at a price to the
public of $20.00 per share. In addition, Hydrofarm has granted the
underwriters a 30-day option to purchase up to an additional
1,300,000 shares to cover over-allotments, if any. The shares are
expected to begin trading on December 10, 2020 on the Nasdaq Global
Select Market under the ticker symbol “HYFM.” The closing of the
offering is expected to occur on December 14, 2020, subject to
customary closing conditions.
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 is being made only by means of a
prospectus. Copies of the 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 on Form S-1 relating to
these securities was declared effective by the Securities and
Exchange Commission on December 9, 2020. 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. For
additional information, please visit: www.hydrofarm.com.
Contacts:
Media ContactCory Ziskind /
ICR(646) 277-1232Cory.ziskind@icrinc.com
Investor ContactFitzhugh Taylor
/ ICRir@hydrofarm.com
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