Beacon Announces Pricing Of Secondary Public Offering Of 5 Mln Shares

(RTTNews) - Beacon (BECN) announced the pricing of underwritten secondary public offering of 5 million shares of Beacon's common stock by CD&R Boulder Holdings, L.P., an entity affiliated with Clayton, Dubilier & Rice, LLC.

The offering is expected to close on December 11, 2023.

The company noted that the underwriter will have a 30-day option to purchase up to an additional 750,000 shares of Beacon common stock from the selling stockholder. The selling stockholder will receive all of the net proceeds from the offering and will continue to hold 5.22 million shares of Beacon common stock after the completion of the offering, or 4.47 million if the underwriter exercises its option to purchase additional shares.

No shares are being sold by Beacon, and the total number of Beacon's shares outstanding will not change as a result of the offering.

Beacon said it will not receive any proceeds from the sale of shares by the selling stockholder, however, Beacon will bear the costs associated with the sale of such shares, other than any underwriting discounts and commissions and certain other expenses of the selling stockholder.

The last reported sale price on the Nasdaq Global Select Market of Beacon common stock on December 6, 2023 was $82.15 per share.