Baird served as the lead book-running manager on this offering
AboutGriffon Corporation (“Griffon” or the “Company”) (NYSE: GFF) recently completed a follow-on offering of 9,200,000 shares of its common stock at a price of $21.50 per share, generating gross proceeds of $197.8 million, including full exercise of the overallotment option. Griffon expects to use the net proceeds received by it from this offering for working capital and general corporate purposes, including to expand its current business through acquisitions of, or investments in, other businesses or products, and to temporarily repay a portion of its outstanding borrowings under its revolving credit facility.
Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. The Company owns and operates, and seeks to acquire, businesses in multiple industries and geographic markets through its three reporting segments Consumer and Professional Products ("CPP"), Home and Building Products ("HBP") and Defense Electronics. CPP conducts its operations through AMES, the leading North American manufacturer and a global provider of branded consumer and professional tools and products for home storage and organization, landscaping, and enhancing outdoor lifestyles. HBP conducts its operations through Clopay, the largest manufacturer and marketer of garage doors and rolling steel doors in North America. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the CornellCookson brand. Defense Electronics conducts its operations through Telephonics Corporation ("Telephonics"), founded in 1933, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers. Griffon is headquartered in New York, New York.
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- August 2020
- Griffon Corporation
- Target Geography
- North America
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