Summit Materials (SUM) Prices 16.6M Share Secondary Offering for Proceeds of ~$367.2M

November 10, 2016 6:16 AM EST

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Summit Materials, Inc. (NYSE: SUM announced the pricing of a secondary offering of 16,614,949 shares of Class A common stock by certain selling stockholders, including affiliates of The Blackstone Group L.P., at a public offering price of $22.10 per share. The offering is expected to close on November 15, 2016, subject to customary closing conditions.

Summit did not offer any shares of Class A common stock in the offering and will not receive any proceeds from the sale of shares in this offering.

Barclays Capital Inc. is serving as sole book-running manager for the offering.

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