BlueLinx announces expiration of rights offering
Atlanta-based LBM distributor BlueLinx Holdings Inc. announced the expiration of the subscription period for its previously announced $40 million rights offering.
The subscription period for the rights offering expired at 5:00 p.m., New York City time, on March 27, 2013. The rights offering was over subscribed and, as a result, BlueLinx expects to receive net proceeds of approximately $38.7 million from the offering.
Following the issuance of the newly subscribed shares, which is expected to occur on or about April 1, 2013, BlueLinx will have approximately 86,612,039 total shares outstanding.
The company serves about 11,500 customers nationwide, including dealers, industrial manufacturers and home improvement retailers.