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HD Supply Holdings Inc Announces Launch of Initial Public Offering

Wednesday, 12 Jun 2013 08:00pm EDT 

HD Supply Holdings Inc announced that it has commenced an initial public offering of 53,191,489 shares of common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the SEC). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 7,978,723 shares of common stock. The initial public offering price is currently expected to be between $22.00 and $25.00 per share of common stock. The Company intends to use the net proceeds of the offering (i) to redeem, repurchase or otherwise acquire or retire (a) all $950 million of the outstanding 10.50% Senior Subordinated Notes due 2021 and (b) a portion of the outstanding 11.50% Senior Notes due 2020, of HD Supply, Inc. and (ii) to pay transaction fees and other expenses. The offering is being made through an underwriting group led by BofA Merrill Lynch, Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, who are acting as lead book-running managers. Additional book-running managers are Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Raymond James & Associates, Inc., BB&T Capital Markets, SunTrust Robinson Humphrey, Inc., Drexel Hamilton, LLC, and Guzman & Company are also acting as managing underwriters of the offering. 

Company Quote

0.64 +2.23%
19 Dec 2014