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HD Supply Holdings, Inc. Completes Its Initial Public Offering

Stocks in this article: HDS

ATLANTA, July 2, 2013 (GLOBE NEWSWIRE) -- HD Supply Holdings, Inc. (Nasdaq:HDS), the indirect parent of HD Supply, Inc., today announced the closing of its previously announced initial public offering of 53,191,489 shares of common stock at $18.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase from the company an additional 7,978,723 shares of common stock. As a result, the total initial public offering size was 61,170,212 shares of common stock. The company intends to use the net proceeds from this offering to (i) redeem, repurchase or otherwise acquire or retire all $950 million of HD Supply, Inc.'s outstanding 10.50% Senior Subordinated Notes due 2021 and (ii) pay transaction fees and other expenses.

The offering was made through an underwriting group led by BofA Merrill Lynch, Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, which acted as lead book-running managers. Additional book-running managers were Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Raymond James & Associates, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, SunTrust Robinson Humphrey, Inc., Drexel Hamilton, LLC, and Guzman & Company also acted as managing underwriters of the offering.

The offering of these securities was made only by means of a prospectus. Copies of the final prospectus may be obtained by contacting one of the following: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: dg.prospectus_requests@baml.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (888) 603-5847, email: barclaysprospectus@broadridge.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, (866) 803-9204; and, Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, (800) 221-1037, email: newyork.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.

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