News Column

Installed Building Products Announces Launch of Equity Follow-On Offering

June 28, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Installed Building Products, Inc. (the "Company" or "IBP"), an industry-leading installer of insulation products, announced the launch of a secondary offering of 8,100,000 shares of its common stock to be sold by IBP Investment Holdings, LLC ("Investment Holdings") and Cetus Capital II, LLC (together with Investment Holdings, the "Selling Stockholders"). The underwriters will have the option to purchase up to 1,215,000 additional shares of common stock from the Company. In connection with the proposed offering, the representatives of the underwriters for the Company's initial public offering in February 2014 have agreed to waive the lock-up restrictions applicable to the selling stockholders and the Company in order to permit the offer and sale of the shares by the selling stockholders and the Company and the other transactions set forth in the registration statement for the proposed offering.

IBP will not receive any proceeds from the sale of shares by the selling stockholders. If the underwriters exercise their option to purchase additional shares, IBP will use the net proceeds therefrom for general corporate purposes, which may include acquisitions.

UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets are acting as joint bookrunners for the offering. Zelman Partners LLC is acting as lead manager and BB&T Capital Markets, KeyBanc Capital Markets and SunTrust Robinson Humphrey are acting as co-managers for the offering.

Keywords for this news article include: Investment and Finance, Installed Building Products Inc..

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Source: Investment Weekly News


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