Boise (BZ) Announces 17M Common Share Offering
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- Boise (BZ) Announces 17M Common Share Offering
Boise Inc. (NYSE: BZ) today announced plans for a secondary offering of 17 million shares of common stock. Pursuant to the offering, all of the shares will be sold by the selling stockholders, Boise Cascade Holdings, L.L.C., and trusts affiliated with Jason Weiss, one of Boise Inc.'s directors. All proceeds of the offering will go to the selling stockholders.
Boise Cascade Holdings, L.L.C. has granted the underwriters a 30-day option to purchase up to 2.55 million additional shares. After the offering, and assuming no exercise of the underwriters' option, Boise Cascade Holdings, L.L.C. is expected to own approximately 25% of Boise Inc.'s shares.
Goldman, Sachs & Co. is acting as sole book-running manager in connection with the offering.
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