Floor & Decor -5.5% as it starts 9M-share secondary

|About: Floor & Decor Holdings, Inc. (FND)|By:, SA News Editor

Floor & Decor Holdings (NYSE:FND) is off 5.5% after hours after launching a secondary offering of 9M shares to be sold by certain stockholders.

Underwriters for the company's recent IPO (of 10.15M shares) are waiving lock-up restrictions with regard to these shares, and will replace with new 90-day lock-ups for officers, directors and certain other stockholders.

That's over $355M at today's closing price. Underwriters will have a 30-day greenshoe option to buy up to 1.35M shares from the stockholders. The company's not selling shares and won't see any proceeds.

BofA Merrill Lynch, Barclays, Credit Suisse, UBS, Goldman Sachs, Jefferies, Piper Jaffray and Wells Fargo Securities are joint book-runners.

Along with the offering notice, the company posted preliminary estimates for its quarter: net sales of $342M-$344M (above consensus for $334.4M), EPS of $0.19-$0.20 (vs. consensus for $0.18), and EBITDA of $41.7M-$43.7M (above an expected $41.2M).

It expects comparable-store sales growth of about 14.7%, vs. a year-ago 22.6%.