Commercial flooring roll-up F5 Finishes sets terms for $40 million IPO
F5 Finishes, a roll-up of commercial flooring providers, announced terms for its IPO on Wednesday.
The Livermore, CA-based company plans to raise $40 million by offering 4 million shares at a price range of $9 to $11. At the midpoint of the proposed range, F5 Finishes would command a fully diluted market value of $84 million.
The company was founded in 2007 and remained inactive until 2017 when it was re-purposed to acquire and consolidate six commercial flooring providers. The acquisitions will be official upon completion of the offering.
F5 Finishes booked $111 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol FLRZ. Maxim Group LLC and Zelman Partners LLC are the joint bookrunners on the deal.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)
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