JELD-WEN Holding, Inc. (JELD) Prices 8M Share Upsized Secondary Offering at $29.25/Sh
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JELD-WEN Holding, Inc. (NYSE: JELD) today announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock by certain of the Company's existing stockholders, Onex Corporation and certain investment funds managed by Onex Partners Manager LP and its affiliates (collectively, the "selling shareholders") at a public offering price of $29.25 per share. The offering was upsized from the previously announced offering size of 7,000,000 shares. The offering is expected to close on March 3, 2021, subject to the satisfaction of customary closing conditions.
The Company is not selling any shares in this offering and will not receive any proceeds from the sale of shares by the selling shareholders in this offering.
Subject to the completion of the offering, the Company intends to repurchase 800,000 of the aggregate 8,000,000 shares of the Company's common stock that are the subject of the offering (the "share repurchase"). The price per share to be paid by the Company will equal the price at which the underwriter will purchase the shares from the selling shareholders in the offering. Accordingly, the number of shares of the Company's common stock available to the general public will be 7,200,000 shares. The offering of shares is not conditioned upon the completion of such share repurchase.
Goldman Sachs & Co. LLC is acting as sole underwriter in the offering.
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