Ply Gem Holdings, Inc, a manufacturer of exterior building products in North America, announced the launch of its initial public offering of about 15.79 million shares of its common stock. The initial public offering price of the common stock is expected to be between $18.00 and $20.00 per share.
The company said it expects to grant the underwriters an option to purchase up to an additional 2.37 million shares of common stock to cover over-allotments, if any.
The company's common stock has been approved for listing on the New York Stock Exchange under the symbol "PGEM." The company estimate that the net proceeds from this offering will be approximately $277.0 million (or $319.0 million if the underwriters exercise their over-allotment option in full), after deducting the underwriting discount and estimated offering expenses payable by it.
The company noted that it intends to use the net proceeds of the offering to redeem, repurchase or repay a portion of its outstanding indebtedness, pay transaction fees and other expenses and for general corporate purposes.
Ply Gem, headquartered in Cary, N.C., is a manufacturer of exterior building products in North America. Ply Gem produces a comprehensive product line of windows and patio doors, vinyl siding, designer accents, cellular PVC trim and mouldings, vinyl fencing, vinyl and composite railing, aluminum coil and related accessories, stone veneer and gutterware used in both new construction and home repair and remodeling in the United States and Western Canada.
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