Summit Materials Prices Secondary Offering Of Common Stock
Summit Materials, Inc. (NYSE:SUM, "Summit") announced today the pricing of a secondary offering of 16,614,949 shares of Class A common stock by certain selling stockholders, including affiliates of The Blackstone Group L.
Summit Materials, Inc. (NYSE:SUM, "Summit") announced today the pricing of a secondary offering of 16,614,949 shares of Class A common stock by certain selling stockholders, including affiliates of The Blackstone Group L.P., at a public offering price of $22.10 per share. The offering is expected to close on November 15, 2016, subject to customary closing conditions. Summit did not offer any shares of Class A common stock in the offering and will not receive any proceeds from the sale of shares in this offering. Barclays Capital Inc. is serving as sole book-running manager for the offering. The offering of these securities is being made pursuant to an effective shelf registration statement. The offering will be made only by means of a prospectus. A copy of the prospectus relating to these securities may be obtained, when available, from: Barclays Capital Inc. by telephone at 1 (888) 603-5847; by email at Barclaysprospectus@broadridge.com; or by mail at Broadridge Financial Solutions, 155 Long Island Avenue, Edgewood, NY 11717. 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. About Summit Materials Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential, and end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets.