Key Developments: BlueLinx Holdings Inc (BXC)
2.45USD
22 May 2013
$0.01 (+0.41%)
$2.44
$2.44
$2.47
$2.39
287,306
218,670
$3.48
$1.83
Latest Key Developments (Source: Significant Developments)
Bluelinx Holdings Inc Announces Change In Executive Leadership
Bluelinx Holdings Inc announced that George R. Judd will no longer serve as President and Chief Executive Officer of the Company, effective May 14, 2013. Mr. Judd will also resign as a director of BlueLinx following the 2013 Annual Meeting of Stockholders to be held on May 16, 2013. The Board has appointed Howard S. Cohen to serve as Executive Chairman to facilitate an orderly transition while the Board conducts a search for a successor to Mr. Judd. Mr. Cohen has been a director of the Company since 2007 and has served as Chairman of the Board since 2008. Mr. Cohen previously served as Interim Chief Executive Officer from March 2008 through October 2008 and as Executive Chairman from March 2008 through March 2009. Full Article
Bluelinx Holdings Inc Completes $40 Million Rights Offering
Bluelinx Holdings Inc announced the completion of its previously announced $40 million rights offering. The Company announced previously that it would use the net proceeds of the rights offering of approximately $38.7 million to reduce the outstanding balance of its U.S. revolving credit facility. Following the issuance of the newly subscribed shares, which is expected to occur on or about April 1, 2013, BlueLinx will have approximately 86,612,039 total shares outstanding. After giving effect to the offering, Cerberus ABP Investor LLC beneficially owns approximately 54.4% of BlueLinx' common stock. Full Article
Bluelinx Holdings Inc Announces Expiration Of $40 Million Rights Offering
Bluelinx Holdings Inc announced the expiration of the subscription period for its previously announced $40 million rights offering. The subscription period for the rights offering expired on March 27, 2013. The rights offering was over subscribed and, as a result, BlueLinx expects to receive net proceeds of approximately $38.7 million from the offering. Following the issuance of the newly subscribed shares, which is expected to occur on or about April 1, 2013, BlueLinx will have approximately 86,612,039 million total shares outstanding. Full Article
Bluelinx Holdings Inc Announces Terms For Rights Offering
Bluelinx Holdings Inc announced that it has set the terms for its previously announced $40 million rights offering. Under the terms of the rights offering, the Company is distributing, at no charge, to the holders of its common stock as of 5:00 p.m. New York City time on March 4, 2013, one non-transferable subscription right for each share of the Company's common stock then owned. Each subscription right will entitle the holder to purchase 0.35845026 of a share of common stock at the subscription price of $1.75 per whole share. Assuming the rights offering is fully subscribed, the Company expects to issue an aggregate of 22,857,142 new shares of common stock in the rights offering. The Company expects to utilize the estimated net proceeds of the rights offering of approximately $38.8 million to repay indebtedness under its U.S. revolving credit facility. Full Article
Bluelinx Holdings Inc Issues Q4 2012 Guidance; EPS Guidance In Line With Analysts' Estimates; Issues FY 2012 Guidance; Revenue Guidance Above Analysts' Estimates
Bluelinx Holdings Inc announced that for fourth quarter of 2012, it expects net loss per diluted share in the range of $0.16 to $0.22, revenue to be approximately $440 million. For fiscal 2012, it expects to report a net loss per diluted share in the range of $0.35 to $0.41 and revenue to be approximately $1.91 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $(0.18) for fourth quarter of 2012; EPS of $(0.49) for fiscla 2012. Full Article
Bluelinx Holdings Inc Announces $17.7 Million Sale of California Real Estate
Bluelinx Holdings Inc announced the sale of its distribution center located in Newark, California. The approximately 235,000-square-foot distribution center sold for $17.7 million. Full Article
BlueLinx Holdings Inc. Announces Amendment to Mortgage Loan Agreement
BlueLinx Holdings Inc. announced that it has entered into an amendment to the Company's mortgage loan on its owned real estate. Completion of the amendment, which the Company believes will provide it with additional liquidity, was a condition to the Company's previously announced, on-going $60 million rights offering. This amendment combined with the amendment to the Company's revolving credit agreement announced on May 12, 2011 satisfies all of the rights offering conditions. The rights offering is scheduled to expire on July 22, 2011, unless extended, and the subscription rights distributed by the Company in connection with the offering will continue to trade on the New York Stock Exchange until July 18, 2011, subject to extension if the rights offering is extended. Full Article
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