PE-backed Floor & Decor sets IPO pricing terms

Floor & Decor Holdings, a retailer of hard surface flooring and related accessories, has priced its IPO of over 8.8 million shares between $16 and $18 per share. The stock will trade on the New York Stock Exchange under the ticker symbol “FND.” BofA Merrill Lynch, Barclays, Credit Suisse, UBS Investment Bank, Goldman, Sachs & Co., Jefferies, Piper Jaffray and Wells Fargo Securities are serving as the underwriters. Floor & Decor is backed by Freeman Spogli & Co.

PRESS RELEASE

April 17, 2017 06:00 AM Eastern Daylight Time

ATLANTA–(BUSINESS WIRE)–Floor & Decor Holdings, Inc. (the “Company” or “Floor & Decor”) today announced the launch of its initial public offering of 8,823,500 shares of its common stock. The initial public offering price is currently expected to be between $16.00 and $18.00 per share of common stock. The Company has applied to list its common stock on the New York Stock Exchange under the symbol “FND.” The underwriters are expected to have an option to purchase up to an additional 1,323,525 shares of common stock.
The Company expects to receive net proceeds of approximately $133.5 million from the offering and intends to use such proceeds to repay a portion of the amounts outstanding under its term loan facility.

BofA Merrill Lynch, Barclays, Credit Suisse, UBS Investment Bank, Goldman, Sachs & Co., Jefferies, Piper Jaffray and Wells Fargo Securities are acting as joint book-running managers for the offering. Houlihan Lokey is acting as co-manager for the offering. A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained, when available, from: BofA Merrill Lynch, Attention: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001; or Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, or by email at Barclaysprospectus@broadridge.com.

About Floor & Decor Holdings, Inc.
Floor & Decor is a multi-channel specialty retailer of hard surface flooring and related accessories, offering a broad in-stock assortment of tile, wood, laminate and natural stone flooring along with decorative and installation accessories at everyday low prices.