Construction Partners Inc. (ROAD) Announces Proposed 6.75M Share IPO Between $15-$17/Sh

Construction Partners, Inc. (NASDAQ: ROAD) today announced that it has commenced an underwritten initial public offering of 11,250,000 shares of its Class A common stock. Construction Partners is offering 6,750,000 shares, and certain selling stockholders are offering 4,500,000 shares. The initial public offering price is expected to be between $15.00 and $17.00 per share. Construction Partners has applied for its Class A common stock to be listed for trading on The Nasdaq Global Select Market under the ticker symbol "ROAD." Construction Partners expects to use the net proceeds from the offering to provide growth capital, to fund acquisitions and for general corporate purposes, which may include the repayment of debt from time to time. Construction Partners will not receive any proceeds from the sale of shares by the selling stockholders.

Certain selling stockholders have granted the underwriters of the offering a 30-day option to purchase up to an additional 1,687,500 shares at the initial public offering price.

Baird, Raymond James and Stephens Inc. are acting as joint book-running managers for the offering. Imperial Capital and D.A. Davidson & Co. are acting as co-managers.

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