Wood products manufacturer Stock Building Supply sets terms for $150 million IPO
Stock Building Supply, which manufactures and distributes wood products in the US, announced terms for its IPO on Tuesday. The Raleigh, NC-based company plans to raise $150 million by offering 8.8 million shares (50% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Stock Building Supply would command a fully diluted market value of $439 million.
Stock Building Supply, which was founded in 1922 and booked $1.0 billion in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol STCK. Stock Building Supply initially filed confidentially on May 8, 2013. Goldman Sachs, Barclays and Citi are the joint bookrunners on the deal.