MRC Global Inc. (MRC) said Monday that its majority stockholder, PVF Holdings LLC, has commenced a registered underwritten public offering of 17 million shares of the company's common stock.
PVF Holdings LLC has granted the underwriters a 30-day option to purchase up to an aggregate of 2.55 million additional shares. MRC Global will not receive any of the proceeds of the offering.
Goldman, Sachs & Co., Barclays and Baird are serving as joint-bookrunning managers for the offering. BofA Merrill Lynch, Wells Fargo Securities and Stephens Inc. are serving as lead managers. Raymond James, KeyBanc Capital Markets and William Blair are serving as co-managers.
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