PGT Inc. (PGTI), the maker of residential impact-resistant windows and doors, said Thursday it had commenced an underwritten secondary offering of 10 million of its common shares by JLL Partners Fund IV L.P., which owns about 61.5% of PGT's outstanding common stock. The underwriters of the offering will have an option to purchase up to 1.5 million additional shares from JLL Partners.
JLL Partners will receive all of the proceeds from the offering. No shares are being sold by PGT.
In addition, PGT said it entered into a share repurchase agreement with JLL Partners, subject to the completion of the offering and the Debt Refinancing, pursuant to which it intends to repurchase shares of its common stock having an aggregate value of $50 million in a concurrent, privately negotiated transaction at a price per share equal to the offering price to the public less the underwriting discounts and commissions.
PGT expects to fund the share repurchase and refinance its existing senior secured credit facilities with borrowings of about $80 million under new senior secured credit facilities, which it expects to enter into concurrently with the closing of the offering and the transaction contemplated by the Repurchase Agreement.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.