Construction Partners (ROAD) has commenced an underwritten initial public offering of 11.25M shares of its Class A common stock.
The initial public offering price is expected to be between $15.00 and $17.00 per share and the stock will be listed on The Nasdaq Global Select Market under the ticker symbol "ROAD."
Net proceeds from the offering will be used to provide growth capital, to fund acquisitions and for general corporate purposes, which may include the repayment of debt from time to time.
Underwriters over-allotment is an additional 1,687,500 shares at the initial public offering price.
Baird, Raymond James and Stephens Inc. are acting as joint book-running managers for the offering.
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