MRC Global Inc. (MRC) said Tuesday that it has closed its initial public offering of about 22.7 million shares of common stock at a price of $21.00 per share.
In connection with the offering, MRC Global sold about 17.05 million shares, resulting in aggregate net proceeds to MRC Global of about $333.9 million, after deducting underwriting discounts and estimated offering expenses.
A selling shareholder sold about 5.7 million shares. The underwriters have an option until May 11 to purchase up to about 3.4 million additional shares from the selling shareholder. MRC Global will not receive any proceeds from the sale of shares by the selling shareholder.
Goldman, Sachs & Co. and Barclays served as joint book-running managers. BofA Merrill Lynch, Baird and Wells Fargo Securities served as lead managers. Raymond James, William Blair & Company and Stephens Inc. served as co-managers.
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