Builders FirstSource, Inc. Announces Pricing of Secondary Offering
DALLAS, TX, May 19, 2016 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (the "Company") (Nasdaq:BLDR) today announced that the previously announced public offering of 13,263,266 shares of its common stock by Warburg Pincus Private Equity IX, L.P. is expected to yield gross proceeds to the selling shareholder of approximately $145.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The underwriters propose to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the NASDAQ Global Select Market, or to dealers in negotiated transactions or in a combination of such methods of sale,
at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices, subject to their right to reject any order in whole or in part. The offering is expected to close on May 24, 2016, subject to customary closing conditions. After completion of the offering, Warburg Pincus Private Equity IX, L.P. will no longer own any shares of the Company's common stock.
The Company is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering. In addition, none of the Company's officers or directors are selling any shares of common stock in the offering.
Credit Suisse and Deutsche Bank Securities are the underwriters for the offering. The offering is being made pursuant to an existing effective registration statement, previously filed with the Securities and Exchange Commission (the "SEC"). The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained on the SEC's website at www.sec.gov. Copies of the prospectus and prospectus supplement may also be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, telephone: (800) 221-1037 or email firstname.lastname@example.org and Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, telephone: (800) 503-4611 or email email@example.com.
press release shall not constitute an offer to sell or the solicitation of any 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.
Statements in this news release that are not purely historical facts or that necessarily depend upon future events, including statements about expected cost savings, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance
on forward-looking statements. All forward-looking statements are based upon information available to Builders FirstSource, Inc. on the date this release was submitted. Builders FirstSource, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to its growth strategies, including gaining market share, or its revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber prices and the economy.
Builders FirstSource, Inc. may not succeed in addressing these and other risks. Further information regarding factors that could affect the Company's financial and other results can be found in the risk factors section of Builders FirstSource, Inc.'s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
SVP Investor Relations
Builders FirstSource, Inc.
Source: Builders FirstSource, Inc.
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