Follow-on Offering

Industrial
Follow-on Offering

Summary

Baird served as a bookrunner on this offering

About

Advanced Drainage Systems, Inc. (“ADS” or the “Company”) (NYSE: WMS) recently priced an upsized follow-on offering of 10,350,000 common shares at a price of $29.75 per share, including 1,350,000 shares sold upon full exercise of the overallotment option, generating gross proceeds of approximately $307.9 million. ADS will receive all of the proceeds from this offering and intends to use the net proceeds for repayment of existing indebtedness incurred to finance the previously announced acquisition of Infiltrator Water Technologies.

ADS is the leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. The Company’s products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. ADS has established a leading position in many of these end markets by leveraging its national sales and distribution platform, overall product breadth and scale and manufacturing excellence. ADS employs approximately 4,900 individuals and is headquartered in Hilliard, Ohio.
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Industrial
Follow-on Offering
Date
September 2019
Company
Advanced Drainage Systems, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America

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