DXP Enterprises (DXPE) Announces 2.7M Share Common Stock Offering

October 20, 2016 4:28 PM EDT

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DXP Enterprises, Inc. (Nasdaq: DXPE) announced the commencement of a primary public offering of 2,700,000 shares of its common stock. In connection with the offering, DXP intends to grant the underwriters a 30-day option to purchase an additional 405,000 shares of its common stock.

Stephens Inc. is serving as the sole book-running manager for the offering and William Blair & Company, L.L.C. and KeyBanc Capital Markets Inc. are serving as co-managers for the offering.

DXP intends to use the net proceeds from this offering to pay down outstanding borrowings under its credit facility. The consummation of the offering is subject to market conditions.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of DXP being offered, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed by the Company with the Securities and Exchange Commission (the “SEC”). Before investing, investors should read the prospectus in that registration statement and the related prospectus supplement to be filed with the SEC for more complete information about the Company and the offering. Copies of the prospectus supplement and the accompanying prospectus will be available by visiting the SEC’s website at www.sec.gov or from Stephens Inc., 111 Center Street, Little Rock, Arkansas 72201, Attn: Prospectus Department (1-800-643-9691).

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