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Stock Building Supply Holdings, Inc. Announces Closing Of Initial Public Offering And Exercise Of Underwriters' Option To Purchase Additional Shares

RALEIGH, N.C., Aug. 14, 2013 (GLOBE NEWSWIRE) -- Stock Building Supply Holdings, Inc. (Nasdaq:STCK) ("Stock Building Supply") announced today that it has closed its previously announced underwritten initial public offering of 7,000,000 shares of its common stock at a price to the public of $14.00 per share. Stock Building Supply sold 4,411,765 shares and certain selling stockholders sold 2,588,235 shares. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 1,050,000 shares of common stock from certain selling stockholders.  As a result, the total initial public offering size was 8,050,000 shares.

Stock Building Supply received proceeds, net of underwriting discounts and commissions, of approximately $57.4 million from the offering. Stock Building Supply intends to use the proceeds to the Company from this offering to pay approximately $46.2 million of the outstanding balances under the revolving line of credit under its secured credit agreement and to pay fees and expenses related to the offering. Stock Building Supply will not receive any proceeds from the sale of shares by the selling stockholders.

Goldman, Sachs & Co., Barclays and Citigroup served as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated acted as lead co-manager, and Stephens Inc. and Wells Fargo Securities, LLC acted as co-managers. Copies of the prospectus related to the offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 888-603-5847, email: barclaysprospectus@broadridge.com; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 800-831-9146.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 8, 2013. 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 securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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