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Installed Building Products announces closing of equity follow-on offering and exercise of the underwriters' option to purchase additional shares


Tuesday, 17 Jun 2014 04:16pm EDT 

Installed Building Products Inc:Closes follow-on offering of an aggregate of 9,314,196 shares of its common stock at a public offering price of $12.50 per share.Total offering size reflects 8,100,000 shares of its common stock offered on behalf of certain selling stockholders and 1,214,196 shares that were offered and sold by the company pursuant to the exercise of the underwriters' option to purchase additional shares.Sale of these shares, including the shares sold by the company pursuant to the exercise of the underwriters' option, closed on June 17.Says it will not receive any proceeds from the sale of shares by the Selling Stockholders.IBP will receive about $14.4 mln, after deducting underwriting discounts but before estimated offering expenses payable by it, from the exercise of the underwriters' option to purchase additional shares.Intends to use such proceeds for general corporate purposes, which may include acquisitions.UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets acted as joint bookrunners for the offering.Zelman Partners LLC acted as lead manager and BB&T Capital Markets, KeyBanc Capital Markets and SunTrust Robinson Humphrey acted as co-managers for the offering.