The AZEK® Company Announces Closing of Initial Public Offering & Full Exercise of Underwriters’ Option to Purchase Additio...
17 June 2020 - 12:52AM
Business Wire
The AZEK Company Inc. (formerly CPG Newco LLC) ("AZEK"), an
industry-leading manufacturer of beautiful, low-maintenance
residential and commercial building products, announced today the
closing of its initial public offering of 38,237,500 shares of its
Class A common stock, including the exercise in full by the
underwriters of their option to purchase up to 4,987,500 additional
shares of Class A common stock, at a price to the public of $23.00
per share. The aggregate net proceeds to AZEK from the offering
were approximately $816.9 million, after deducting underwriting
discounts and commissions and estimated offering expenses. All of
the shares in the offering were offered by AZEK. AZEK’s Class A
common stock began trading on the New York Stock Exchange on June
12, 2020 under the ticker symbol "AZEK."
Barclays, BofA Securities, Goldman Sachs & Co. LLC and
Jefferies acted as joint lead book-running managers for the
offering. Citigroup, Credit Suisse, Deutsche Bank Securities and
RBC Capital Markets acted as joint book-running managers, and B.
Riley FBR, Baird, Stephens Inc., Stifel, SunTrust Robinson Humphrey
and William Blair acted as co-managers for the offering.
A registration statement relating to the offering was filed with
the Securities and Exchange Commission and became effective on June
11, 2020. The offering was made only by means of a prospectus.
Copies of the final prospectus relating to the offering may be
obtained from:
- Barclays, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, by telephone at (888) 603-5847 or
by email at barclaysprospectus@broadridge.com;
- BofA Securities, NC1-004-03-43; 200 North College Street, 3rd
Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus
Department or by email at dg.prospectus_requests@bofa.com;
- Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, NY 10282, by telephone at (866)
471-2526, by facsimile at (212) 902-9316 or by email at
prospectus-ny@ny.email.gs.com; or
- Jefferies, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at
(877) 821-7388 or by email at
Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About The AZEK® Company
The AZEK Company Inc. is an industry-leading manufacturer of
beautiful, low-maintenance residential and commercial building
products, committed to innovation, sustainability and research and
design.
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Christine Carter Backbone Media
christine.carter@backbonemedia.net (970) 963-4873 ext. 203
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