PE-backed Foundation Building Materials sets IPO pricing terms

Tustin, California-based Foundation Building Materials Inc, a provider of wallboard and suspended ceiling systems, has priced its 12.8 million shares of its IPO between $17 and $19 per share. Foundation Building Materials has applied to list the stock on the New York Stock Exchange under the ticker symbol “FBM.” Deutsche Bank Securities, Barclays and RBC Capital Markets are serving as the lead underwriters. Foundation Building Materials is backed by Lone Star Funds.

PRESS RELEASE

TUSTIN, Calif., Jan. 31, 2017 /PRNewswire/ — Foundation Building Materials, Inc. (the “Company”) announced today that it has commenced an initial public offering of 12,800,000 shares of its common stock, all of which are being offered by the Company. The initial public offering price is expected to be between $17.00 to $19.00 per share. The Company’s sole stockholder expects to grant the underwriters an option to purchase up to an additional 1,920,000 shares of common stock. The Company has applied to list its common stock on the New York Stock Exchange under the symbol “FBM.”

The Company intends to use its net proceeds from the offering to repay certain indebtedness and for general corporate purposes. The Company will not receive any proceeds from the sale of shares by the selling stockholder in the event the option to purchase additional shares is exercised by the underwriters.

Deutsche Bank Securities, Barclays and RBC Capital Markets are acting as joint book-running managers for the offering and representatives of the underwriters, and Citigroup is acting as a book-running manager for the offering. Baird is acting as lead manager for the offering and Raymond James, Stephens Inc., SunTrust Robinson Humphrey and William Blair are acting as co-managers. The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering can be obtained from:

Deutsche Bank Securities Inc.
Attn: Prospectus Group
60 Wall Street
New York, NY 10005-2836
Email: prospectus.cpdg@db.com
Phone: 800-503-4611

Barclays Capital Inc.
Attn: c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Phone: 888-603-5847

RBC Capital Markets, LLC
Attn: Equity Syndicate
200 Vesey Street, 8th Floor
New York, NY 10281-8098
Email: equityprospectus@rbccm.com
Phone: 877-822-4089

A registration statement relating to these securities has been filed with the 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 shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities 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.

About Foundation Building Materials
Foundation Building Materials is a specialty distributor of wallboard and suspended ceiling systems throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 200 branches across the U.S. and Canada.