HD Supply Holdings, Inc. Completes Its Initial Public Offering
ATLANTA, July 2, 2013 (GLOBE NEWSWIRE) -- HD Supply Holdings, Inc.
(Nasdaq:HDS), the indirect parent of HD Supply, Inc., today announced the
closing of its previously announced initial public offering of 53,191,489
shares of common stock at $18.00 per share. In connection with the initial
public offering, the underwriters exercised in full their option to purchase
from the company an additional 7,978,723 shares of common stock. As a result,
the total initial public offering size was 61,170,212 shares of common stock.
The company intends to use the net proceeds from this offering to (i) redeem,
repurchase or otherwise acquire or retire all $950 million of HD Supply,
Inc.'s outstanding 10.50% Senior Subordinated Notes due 2021 and (ii) pay
transaction fees and other expenses.
The offering was made through an underwriting group led by BofA Merrill Lynch,
Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA)
LLC, which acted as lead book-running managers. Additional book-running
managers were Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co.,
Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities. Robert W.
Baird & Co. Incorporated, William Blair & Company, L.L.C., Raymond James &
Associates, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC,
SunTrust Robinson Humphrey, Inc., Drexel Hamilton, LLC, and Guzman & Company
also acted as managing underwriters of the offering.
The offering of these securities was made only by means of a prospectus.
Copies of the final prospectus may be obtained by contacting one of the
following: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway,
New York, NY 10038, email: firstname.lastname@example.org; Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, (888) 603-5847, email: email@example.com; J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Ave., Edgewood, NY 11717, (866) 803-9204; and, Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York
10010, (800) 221-1037, email: firstname.lastname@example.org.
A registration statement relating to these securities has been filed with, and
declared effective by, the U.S. Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these shares in any state in which such
offer, solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any state.
HD Supply is one of the largest industrial distributors in North America. The
company provides a broad range of products and value-add services to
approximately 500,000 professional customers with leadership positions in
maintenance, repair and operations, infrastructure and power and specialty
construction sectors. With more than 600 locations across 46 states and nine
Canadian provinces, the company's approximately 15,000 associates provide
localized, customer-driven services including jobsite delivery, will call or
direct-ship options, diversified logistics and innovative solutions that
contribute to its customers' success.
This press release includes "forward-looking statements," including with
respect to the company's proposed use of proceeds. Forward-looking statements
are subject to known and unknown risks and uncertainties, many of which may be
beyond our control. We caution you that the forward-looking information
presented in this press release is not a guarantee of future events, and that
actual events may differ materially from those made in or suggested by the
forward-looking information contained in this press release. In addition,
forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may," "plan," "seek," "comfortable with,"
"will," "expect," "intend," "estimate," "anticipate," "believe" or "continue"
or the negative thereof or variations thereon or similar terminology. Any
forward-looking information presented herein is made only as of the date of
this press release, and we do not undertake any obligation to update or revise
any forward-looking information to reflect changes in assumptions, the
occurrence of unanticipated events, or otherwise.
CONTACT: Investor Contact:
HD Supply Investor Relations
HD Supply Public Relations
HD Supply logo
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