Boise Cascade Announces Closing of IPO Monday, February 11, 4:33 PM ET
Boise Cascade Company (NYSE:BCC) today announced the closing of its previously announced underwritten IPO of 11,764,706 shares of its common stock at a price to the public of $21.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 1,764,706 shares of common stock from Boise Cascade. As a result, the total initial public offering size was 13,529,412 shares.
Boise Cascade received proceeds, net of underwriters' discount and commissions and estimated offering expenses payable by Boise Cascade, of approximately $262.9 million from the offering. Boise Cascade intends to use $25.0 million of the net proceeds to repay borrowings under its revolving credit facility and the remainder for general corporate purposes.
Bank of America/Merrill Lynch, Goldman Sachs, Deutsche Bank, J.P. Morgan, and Wells Fargo Securities acted as joint book-running managers for the offering. D.A. Davidson, Moelis & Company and Piper Jaffray & Co. served as co-managers for the offering.
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