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PGT Secondary Stock Offering Size Increased

Friday - 5/24/2013, 4:17am  ET

A larger-than-previously announced block of PGT's shares is up for grabs. Major stockholder JLL Partners Fund has increased the size of its sale; it is now offering an even 10 million shares in an underwritten secondary public offering priced at $7.75 per share. Also, the issue's underwriters have been granted a 30-day option to buy up to an additional 1.65 million shares from the seller.

PGT itself will be a buyer. The company is to purchase nearly 6.8 million shares in the offering at a slightly lower price of $7.3625 per share.

The joint book-running managers of the issue are Raymond James Financial unit Raymond James & Associates, Royal Bank of Canada's RBC Capital Markets, and the Securities divisions of Credit Suisse and Deutsche Bank. The sale is expected to close on May 28.

This article was originally published as PGT Secondary Stock Offering Size Increasedon

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