Benzinga | Aug 4, 2020 05:58AM EDT

SiteOne Landscape Supply Prices 2.15M Share Public Offering of Common Stock for Gross Proceeds of $264M

SiteOne Landscape Supply, Inc. (NYSE:SITE) (the "Company") today announced the pricing of an underwritten public offering of 2,150,000 shares of common stock. The Company has granted the underwriter a 30-day option to purchase up to an additional 322,500 shares of its common stock. The offering is expected to close on or about August 6, 2020, subject to customary closing conditions.

BofA Securities is acting as the sole underwriter for the offering. The underwriter may offer the shares of our common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

The approximate gross proceeds to the Company from the sale of shares of common stock in the offering are expected to be $264 million (or $304 million if the underwriter exercises its option to purchase additional shares in full). The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the acquisition of companies or businesses, the repayment and refinancing of debt, working capital and capital expenditures.