CDW (CDW) Announces 10M Common Offering; Will Repurchase 2M Common Shares

CDW (NASDAQ: CDW) announced the commencement of a public offering of 10,000,000 shares of its common stock held by selling stockholders pursuant to an effective Registration Statement on Form S-3ASR previously filed with the Securities and Exchange Commission. The selling stockholders are affiliates of Madison Dearborn Partners (5,179,651 shares), affiliates of Providence Equity Partners (4,579,585 shares) and the following members of management: Christina Rother (40,856), Jonathan Stevens (43,228), Matthew Troka (28,375), Ann Ziegler (54,641) and Douglas Eckrote (73,664 shares). The underwriters will have a 30-day option to purchase up to an additional 1,500,000 shares of common stock from the selling stockholders. CDW Corporation will not receive any of the proceeds from the sale of the shares of common stock.

Barclays Capital Inc. and Goldman, Sachs & Co. are acting as underwriters in this offering.

In addition, CDW Corporation announced that it has entered into a share repurchase agreement with certain selling stockholders affiliated with Madison Dearborn Partners and Providence Equity Partners pursuant to which it intends to repurchase 2,000,000 shares of its common stock from such selling stockholders concurrently with the closing of the offering. The share repurchase will be effected in a private, non-underwritten transaction at a price per share equal to the price paid by the underwriters to the selling stockholders in the offering. CDW Corporation expects to fund the repurchase from cash on hand. The closing of the share repurchase is contingent on the closing of the offering. The closing of the offering is not contingent on the closing of the share repurchase.

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