Stock sets its IPO price
Raleigh, N.C.-based pro dealer Stock Building Supply Holdings set its initial public offering pricing at $14 per share.
The company said it expects to receive proceeds, net of underwriting discounts and commissions, of approximately $57.4 million from the offering. Stock said it intends to use the proceeds to pay about $46.2 million of the outstanding balances under the revolving line of credit under its secured credit agreement and to pay fees and expenses related to the offering.
The shares will be listed on NASDAQ Global Select Market.