Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Caesarstone Sdot-Yam Ltd.
Initial Public Offering
Baird served as a co-manager in this offering
Caesarstone Sdot-Yam Ltd. (NASDAQ-GS: CSTE) (“Caesarstone” or the “Company”) recently completed an initial public offering of 6,660,000 shares of common stock at a price of $11.00 per share, generating gross proceeds of approximately $73.3 million. The Company intends to use the net proceeds from the offering to pay a special dividend to its existing shareholders, repay the balance of the acquisition price for the remaining equity interest in its U.S. distributor, expand its production capacity and for working capital and other general corporate purposes.
Caesarstone manufactures high quality engineered quartz surfaces, which are used in both residential and commercial buildings as countertops and other types of interior surfaces. The wide variety of colors, styles, designs and textures of quartz the Company produces, along with the product’s inherent durability, provide consumers with a product competitive with granite, manufactured solid surfaces and laminate. The Company’s products are available in 42 countries around the world.