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HD Supply Holdings Inc Completes Initial Public Offering

Tuesday, 2 Jul 2013 11:37am EDT 

HD Supply Holdings Inc announced the closing of its previously announced initial public offering of 53,191,489 shares of common stock at $18.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase from the Company an additional 7,978,723 shares of common stock. As a result, the total initial public offering size was 61,170,212 shares of common stock. The Company intends to use the net proceeds from this offering to redeem, repurchase or otherwise acquire or retire all $950 million of the Company's outstanding 10.50% Senior Subordinated Notes due 2021 and pay transaction fees and other expenses. The offering was made through an underwriting group led by BofA Merrill Lynch, Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, which acted as lead book-running managers. Additional book-running managers were 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, a division of BB&T Securities, LLC, SunTrust Robinson Humphrey, Inc., Drexel Hamilton, LLC, and Guzman & Company also acted as managing underwriters of the offering. 

Company Quote

0.295 +0.90%
4:00pm EDT