Beacon Roofing Supply, Inc. Announces Secondary Offering Of 5M Shares Of Common Stock
Portfolio Pulse from Happy Mohamed
Beacon Roofing Supply, Inc. (NASDAQ:BECN) has announced the commencement of an underwritten secondary public offering of 5 million shares of its common stock by CD&R Boulder Holdings, L.P., an entity affiliated with Clayton, Dubilier & Rice, LLC. Morgan Stanley is the sole underwriter in the offering. The selling stockholder will receive all net proceeds and will continue to hold over 10 million shares of Beacon common stock after the offering. No shares are being sold by Beacon, and the total number of Beacon's shares outstanding will not change as a result of the offering.

August 07, 2023 | 9:09 pm
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Beacon Roofing Supply is commencing a secondary public offering of 5 million shares. The total number of Beacon's shares outstanding will not change as a result of the offering.
The secondary public offering of 5 million shares will not change the total number of Beacon's shares outstanding. This means that while there will be a redistribution of ownership, the overall equity structure of the company will remain the same. Therefore, the short-term impact on the stock price is expected to be neutral.
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