Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Wed, November 30, 2:53 PM
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Slide #185. Compass Diversified Holdings — Preferred Stock Offering
Compass Diversified Holdings (NYSE:CODI)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Compass Diversified Holdings (NYSE: CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, announced today it has priced a $100 million public offering of 4,000,000 of its 7.875% Series B Fixed-to-Floating Rate Cumulative Preferred Shares with a liquidation preference of $25.00 per share. The Company has granted the underwriters a 30-day over-allotment option to purchase up to an additional 600,000 Series B Preferred Shares. CODI intends to use the net proceeds from the offering to repay a portion of the outstanding balance of its revolving credit facility and for general corporate purposes. The closing is expected to occur on or about March 13, 2018, subject to customary closing conditions.
Compass Diversified is a statutory trust that acquires and manages a group of small and middle-market businesses. Co.'s businesses include: branded consumer businesses, which includes its subsidiary, 5.11 ABR Corp., that provides purpose-built tactical apparel and gear for law enforcement, firefighters, EMS, and military special operations as well as outdoor and adventure enthusiasts; and niche industrial businesses, which includes its subsidiary, Foam Fabricators Inc., that designs and manufactures custom molded protective foam solutions and original equipment manufacturer components made from expanded polystyrene and other expanded polymers.
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Buy (3.33 out of 4)
(ranked lower than approx. 51% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com