Ply Gem Holdings Inc. Announces Pricing of IPOMay 23rd, 2013 by DWM Magazine
Ply Gem Holdings Inc. today announced the pricing of its initial public offering of 15,789,474 shares of its common stock at a price to the public of $21.00 per share. The company has granted the underwriters an option to purchase up to an additional 2,368,421 shares of common stock to cover over-allotments, if any. The company’s common stock will be listed on the New York Stock Exchange under the symbol “PGEM.” The offering is expected to close on May 29, 2013.
Total net proceeds to the company from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses, will be approximately $306.5 million. The company intends to use the net proceeds to redeem, repurchase or repay a portion of its outstanding indebtedness, to pay transaction fees and other expenses and for general corporate purposes.