Foundation Building Materials Announces Pricing of Secondary Offering of Common Stock by Selling Stockholder
Foundation Building Materials, Inc. (“FBM” or the “Company”) (NYSE: FBM), one of the largest specialty distributors of wallboard, suspended ceiling systems and metal framing in North America, today announced the pricing of an underwritten secondary offering of 4,750,000 shares of common stock of the Company by its largest stockholder, an affiliate of Lone Star Fund IX (U.S.), L.P. (the “Selling Stockholder”) at a price to the public of $17.00 per share. The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of common stock of the Company. The Company will not receive any of the proceeds from this offering, but will bear the costs associated with the sale of the shares, other than underwriting discounts and commissions. No shares are being sold by the Company. The offering is expected to close on September 24, 2019, subject to customary closing conditions.
BofA Merrill Lynch and RBC Capital Markets are acting as joint book-running managers and representatives of the underwriters, and Barclays is acting as a book-running manager for the offering. Baird, Raymond James, Stephens Inc. and SunTrust Robinson Humphrey are acting as co-managers for the offering.
The Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. The registration statement was declared effective on August 13, 2019. Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from: BofA Merrill Lynch, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at email@example.com; or RBC Capital Markets, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at (877) 822-4089 or by email at firstname.lastname@example.org.