Benzinga | Jan 22, 2021 05:28AM EST

The AZEK Company Priced 20M Share Public Offering of Class A Common Stock @$40/Share

The AZEK Company Inc. (NYSE:AZEK) ("AZEK") announced today the pricing of an underwritten public offering of 20,000,000 shares of its Class A common stock to be offered by certain of its selling stockholders, at a price to the public of $40.00 per share. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of Class A common stock at the public offering price, less underwriting discounts and commissions. AZEK will not receive any proceeds from the sale of the shares of Class A common stock. The offering is expected to close on January 26, 2021, subject to customary closing conditions.

Barclays, BofA Securities, Goldman Sachs & Co. LLC and Jefferies are acting as joint lead book-running managers for the offering. Citigroup, Credit Suisse, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers, and B. Riley Securities, Baird, Stephens Inc., Stifel, Truist Securities and William Blair are acting as co-managers for the offering.