CDW (CDW) Announces 8M Common Secondary Offering; Plans Buyback
Get Alerts CDW Hot Sheet
Join SI Premium – FREE
CDW (NASDAQ: CDW) announced the commencement of an underwritten offering by selling stockholders of an aggregate of 8,000,000 shares of its common stock 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 and affiliates of Providence Equity Partners. The underwriters will have a 30-day option to purchase up to an additional 1,200,000 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.
Subject to the completion of the offering, CDW Corporation intends to repurchase from the underwriters 1,000,000 shares of its common stock that are being sold by the selling stockholders in this offering 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 and/or borrowings under its senior secured asset-based revolving credit facility.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- INmune Bio (INMB) Prices 986K Share Offering at $9.84/sh
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- AZZ, Inc. (AZZ) Announces Proposed 4M Share Offering
Create E-mail Alert Related Categories
Corporate News, Equity Offerings, Stock BuybacksRelated Entities
Barclays, Providence Equity Partners, Madison Dearborn Partners, S3Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!