Veritiv (VRTV) Announces 1.57M Common Stock Secondary Offering; Plans Stock Buyback

November 15, 2016 4:36 PM EST

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Veritiv Corporation (NYSE: VRTV) announced an underwritten public offering of 1,568,000 shares of its common stock by UWW Holdings, LLC, one of its existing stockholders and the former parent company of Unisource Worldwide, Inc., subject to market conditions and other factors. The selling stockholder expects to grant a 30-day option to the underwriters to purchase up to an additional 188,160 shares from the selling stockholder. The Company is not selling any shares of common stock in the offering, and the Company will not receive any proceeds from the offering by the selling stockholder.

In addition, the Company announced that it intends to repurchase 313,600 of the 1,568,000 shares from the underwriters, concurrently with the closing of the offering, at a price per share equal to the price at which the underwriters will purchase such shares from the selling stockholder. The closing of the share repurchase is contingent on, and expected to occur simultaneously with, the closing of the offering, subject to the satisfaction of other customary conditions.

BofA Merrill Lynch, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint book-running managers of the offering.

A registration statement (including prospectus) relating to these securities was filed with and declared effective by the Securities and Exchange Commission (the "SEC"). Information about the offering is available in the preliminary prospectus supplement filed by the Company with the SEC today. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting BofA Merrill Lynch, attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, telephone: 1-800-294-1322, email: dg.prospectus_requests@baml.com.



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