PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--
BrightView Holdings, Inc. (“BrightView”) today announced the pricing of
its initial public offering of 21,300,000 shares of its common stock at
$22.00 per share. Shares of BrightView’s common stock are expected to
begin trading on the New York Stock Exchange on June 28, 2018 under the
symbol “BV,” and the offering is expected to close on July 2, 2018,
subject to customary closing conditions. BrightView has granted the
underwriters a 30-day option to purchase up to an additional 3,195,000
shares of its common stock.
BrightView will receive net proceeds of approximately $435.1 million
after deducting underwriting discounts and commissions and estimated
offering expenses and intends to use the net proceeds from the offering
to repay borrowings outstanding under its second lien term loan facility
and its revolving credit facility and, with all remaining proceeds, to
repay borrowings outstanding under its first lien term loan facility.
Goldman Sachs & Co. LLC, J.P. Morgan, KKR Capital Markets and UBS
Investment Bank are acting as joint bookrunning managers for the
proposed offering, and Baird, Credit Suisse, Macquarie Capital,
Jefferies, Mizuho Securities, Morgan Stanley and RBC Capital Markets are
also acting as bookrunners for the proposed offering. Nomura, Stifel,
William Blair, Moelis & Company and SMBC Nikko are acting as co-managers
for the proposed offering.
A registration statement, including a prospectus, relating to the
offering has been declared effective by the U.S. Securities and Exchange
Commission (the “SEC”). This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
The offering of these securities will be made only by means of a
prospectus. Copies of the prospectus may be obtained from Goldman Sachs
& Co. LLC, Prospectus Department at 200 West Street, New York, NY 10282
or by telephone at 866-471-2526 or by facsimile at 212-902-9316, or by
email at prospectus-ny@ny.email.gs.com;
or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204.
About BrightView
BrightView is the largest provider of commercial landscaping services in
the United States. Through its team of approximately 19,000 employees,
BrightView provides services ranging from landscape maintenance and
enhancements to tree care and landscape development for thousands of
customers’ properties, including corporate and commercial properties,
HOAs, public parks, hotels and resorts, hospitals and other healthcare
facilities, educational institutions, restaurants and retail, and golf
courses, among others.
Forward Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” You can identify forward-looking
statements because they contain words such as “believes” and “expects.”
Forward-looking statements are based on BrightView’s current
expectations and assumptions. Because forward-looking statements relate
to the future, they are subject to inherent uncertainties, risks and
changes in circumstances that may differ materially from those
contemplated by the forward-looking statements, which are neither
statements of historical fact nor guarantees or assurances of future
performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements are set forth in
BrightView’s filings with the SEC, including its registration statement
on Form S-1, as amended from time to time, under the caption “Risk
Factors.” Any forward-looking statement in this release speaks only as
of the date of this release. BrightView undertakes no obligation to
publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise, except as
may be required by any applicable securities laws.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180627006306/en/
BrightView Holdings, Inc.
Fred Jacobs, 484-567-7244
Vice
President of Communications and Public Affairs
Fred.Jacobs@BrightView.com
Source: BrightView Landscapes