BOISE, ID – Boise Cascade Company's common stock price closed at $27.56 on Friday, 31.2% above the price it opened Feb. 6 on the New York Stock Exchange (NYSE).
Boise Cascade, trading under the symbol BCC, launched its initial public offering of 11,764,706 shares of its common stock at $21 per share. The offering is expected to close on Monday Feb. 11. The company's IPO raised $247.8 million; after net underwriters' discount and commissions, Boise Cascade expected to realize $228.4 million in net proceeds. About $25 million of this amount will be used to repaly loans under its revolving credit facility and the remainder will be used for general corporate purposes, the company said.
BofA Merrill Lynch; Goldman, Sachs & Co.; Deutsche Bank Securities; J.P. Morgan; and Wells Fargo Securities are acting as joint book-running managers for the offering. D.A. Davidson & Co., Moelis & Company and Piper Jaffray & Co. are serving as co-managers for the offering.
Boise Cascade is a vertically-integrated wood products manufacturer and building materials distributor with operations throughout the United States and Canada.
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