ATLANTA, June 27, 2013 (GLOBE NEWSWIRE) -- HD Supply Holdings, Inc., the indirect parent of HD Supply, Inc., today announced that it has priced an initial public offering of 53,191,489 shares of common stock at $18.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on June 27, 2013 under the ticker symbol "HDS." The underwriters have been granted a 30-day option to purchase from the company up to an additional 7,978,723 shares of common stock. If the underwriters do not exercise their option to purchase additional shares, the company intends to use the net proceeds of the offering (i) to redeem, repurchase or otherwise acquire or retire (a) approximately $633 million of the outstanding 10.50% Senior Subordinated Notes due 2021 and (b) $185 million of the outstanding 11.50% Senior Notes due 2020, of HD Supply, Inc. and (ii) to pay transaction fees and other expenses. Alternatively, if the underwriters exercise their option to purchase additional shares such that the company receives sufficient net proceeds from the offering to permit the company to redeem, repurchase or otherwise acquire or retire all $950 million of the outstanding 10.50% Senior Subordinated Notes due 2021, the company intends to instead use the net proceeds from this offering, together with available cash if necessary, to (a) redeem, repurchase or otherwise acquire or retire all of the outstanding 10.50% Senior Subordinated Notes due 2021 and (b) pay transaction fees and other expenses. The offering is being made through an underwriting group led by BofA Merrill Lynch, Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, which are acting as lead book-running managers. Additional book-running managers are 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 are also acting as managing underwriters of the offering.
The offering of these securities will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained by contacting one of the following: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: email@example.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (888) 603-5847, email: firstname.lastname@example.org; 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: email@example.com.A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). 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. HD Supply is one of the largest industrial distributors in North America. The company provides a broad range of products and value-add services to approximately 500,000 professional customers with leadership positions in maintenance, repair and operations, infrastructure and power and specialty construction sectors. With more than 600 locations across 46 states and nine Canadian provinces, the company's approximately 15,000 associates provide localized, customer-driven services including jobsite delivery, will call or direct-ship options, diversified logistics and innovative solutions that contribute to its customers' success.
CONTACT: Investor Contact: William Stengel HD Supply Investor Relations 770-852-9100 Investor.Relations@hdsupply.com Media Contact: Quiana Pinckney HD Supply Public Relations 770-852-9057 Quiana.Pinckney@hdsupply.com