Griffon Corp (GFF) Prices 8M Share Common Offering at $21.50/Sh

Griffon Corporation (NYSE: GFF) announced today the pricing of an underwritten offering of 8,000,000 shares of common stock at a public offering price of $21.50 per share. In addition, Griffon and a selling stockholder of Griffon have granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock.

Griffon expects to use the net proceeds received by it from this offering (i) for working capital and general corporate purposes, including to expand its current business through acquisitions of, or investments in, other businesses or products, and (ii) to temporarily repay a portion of its outstanding borrowings under its revolving credit facility (which will be subject to re-borrowing), and for the payment of related fees and expenses. Griffon will not receive any proceeds from the sale of common stock by the selling stockholder. The offering is expected to close on August 18, 2020, subject to the satisfaction of customary closing conditions.

Baird is acting as lead book-running manager and representative of the underwriters for this offering. Raymond James & Associates, Inc., Stephens Inc., and Truist Securities, Inc. are also acting as additional joint book-running managers for this offering. CJS Securities, Inc. and Sidoti & Company, LLC are acting as co-managers for this offering.

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