Patrick Completes $225 Million Convertible Notes Offering

Industrial
Consumer

Patrick convertible notes offering


Summary

Patrick Industries, Inc. ("Patrick" or the "Company") (NASDAQ: PATK) recently completed a private offering of $225.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2028 (the “Notes”). The Company also granted the initial purchasers of the Notes a 13-day option to purchase up to an additional $33.8 million aggregate principal amount of the Notes. Net proceeds from the offering will be used to pay off the cost of convertible note hedge transactions and general corporate purposes.

Baird served as co-manager on this offering.

About

Patrick is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets, including single and multi-family housing, hospitality, institutional and commercial markets. Founded in 1959, Patrick is based in Elkhart, Indiana, with over 11,000 employees and 160 businesses across the United States.
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Industrial
Consumer

Patrick convertible notes offering

Date
December 2021
Company
Patrick Industries, Inc.
Transaction
Equity Capital Markets
Sectors
Industrial
Consumer
Verticals
Outdoor Recreation
Building & Construction Products
Vehicle Supply
Target Location
North America

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