Core & Main Announces Secondary Offering - Quick Facts

(RTTNews) - Core & Main Inc. (CNM) announced the launch of an underwritten secondary public offering of 15 million shares of Class A common stock by certain selling stockholders. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2.25 million shares of class A common stock. The company noted that it is not offering any shares of Class A common stock in the offering and will not receive any proceeds from the offering.

Also, Core & Main announced that concurrent with the completion of the offering, it expects to repurchase and redeem, from the selling stockholders 3.13 million shares of its Class A common stock and 1.87 million partnership interests of the company's subsidiary Core & Main Holdings, LP at the same per share price to be paid by the underwriters to the selling stockholders.