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Commscope Holding Company Inc Prices Initial Public Offering

Thursday, 24 Oct 2013 11:37pm EDT 

Commscope Holding Company Inc announced that it has priced initial public offering of 38,461,537 shares of its common stock at $15.00 per share. The shares are expected to begin trading October 25, on the NASDAQ Global Select Market under the ticker symbol COMM. CommScope is offering 30,769,230 shares, and an affiliate of The Carlyle Group is offering 7,692,307 shares. The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 5,769,230 shares at the initial public offering price. CommScope will not receive proceeds from any exercise by the underwriters of their option to purchase additional shares from the Selling Stockholder. CommScope expects to receive proceeds from this offering, net of underwriting discounts, of approximately $437.3 million and intends to use the net proceeds it receives from the offering, plus cash on hand, to redeem approximately $399 million in aggregate principal amount of CommScope, Inc.'s 8.25% Senior Notes due 2019 and to pay related premiums, expenses and accrued interest. J.P. Morgan, Deutsche Bank Securities and BofA Merrill Lynch are acting as lead book-running managers. Additional book-running managers are Barclays, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Jefferies, Morgan Stanley & Co. LLC, RBC Capital Markets and Wells Fargo Securities. Co-Managers are Allen & Company LLC, Evercore, Raymond James, Mizuho Securities, SMBC Nikko and Drexel Hamilton. 

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