Beacon shares to be offered by CD&R affiliate

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Written By Pinang Driod

© Reuters.

HERNDON, Va. – Beacon (NASDAQ: BECN), a distributor of building materials, disclosed the pricing of a secondary public offering of 5,218,134 shares of its common stock. The shares are being offered by CD&R Boulder Holdings, L.P., associated with private equity firm Clayton, Dubilier & Rice, LLC. RBC Capital Markets is serving as the exclusive underwriter for the offering, which is slated to close on January 22, 2024, subject to customary closing conditions.

The offering is consequential for the selling stockholder, who will receive all proceeds and will no longer hold Beacon common stock post-offering. Beacon itself is not selling any shares and will not benefit financially from the transaction, but will bear the costs associated with the sale, excluding underwriting discounts, commissions, and certain expenses of the selling stockholder.

Beacon’s shares, which last traded at $84.21 on the Nasdaq Global Select Market, are proposed to be sold in varying transactions at market prices, or at prices related to the market. The offering is being made as part of a shelf registration statement on Form S-3ASR under the Securities Act of 1933.

Potential investors can obtain copies of the prospectus supplement and the accompanying prospectus by contacting RBC Capital Markets, or by visiting the SEC’s website. These documents provide more complete information about Beacon and the offering.

The press release included forward-looking statements under the Private Securities Litigation Reform Act of 1995, indicating management’s expectations for Beacon’s future. However, actual results may differ due to various factors detailed in Beacon’s SEC filings.

Beacon, established in 1928, is a Fortune 500 company that operates across the United States and Canada. It provides roofing materials and other building products to a broad customer base and offers digital account management through Beacon PRO+.

The information in this article is based on a press release statement.

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