Stock Building Supply prices downsized IPO at $14, below the range
Stock Building Supply, which distributes lumber and building materials primarily to homebuilders, raised $98 million by offering 7.0 million shares (including 2.6 million from selling shareholders) at $14, below the range of $16-18. The company had originally planned to sell 8.8 million shares (including 4.4 million from insiders) but cut the secondary component by 41%. Stock Building Supply plans to list on the NASDAQ under the symbol STCK. Goldman Sachs, Barclays and Citi acted as bookrunners on the deal.
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