Compass Diversified Holdings, which owns Fox Factory Inc., has commenced a public offering of 4,300,000 trust shares, with a 30-day option for the underwriters to purchase up to an additional 645,000 trust shares. Net proceeds from the offering will be used for general corporate purposes.
The issue would be priced at $16.90 per share, well below CODI's trading price Friday's price of $17.50. If investment banks fully exercise their underwriting discounts, the issue would generate net proceeds of $69.0 milllion for CODI.
Morgan Stanley and UBS Investment Bank are the joint book-running managers on the offering, with BB&T Capital Markets, a division of Scott & Stringfellow, LLC; CJS Securities, Inc.; Janney Montgomery Scott; Morgan Keegan & Company, Inc.; SunTrust Robinson Humphrey and TD Securities acting as co-managers. A copy of the preliminary prospectus supplement relating to the offering may be obtained from the following address:
