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NCI Building announces 8.5M stock offering

NCI Building Systems: certain stockholders planning to sell 8.5M shares of its stock

Associated Press

HOUSTON (AP) -- NCI Building Systems said Monday that an affiliated group of stockholders are planning to sell 8.5 million shares of its common stock.

The shares are being sold by investment funds associated with Clayton, Dubilier & Rice LLC.

The underwriters will have an option to buy up to an additional 1.3 million shares from Clayton, Dubilier & Rice, which will receive all of the offering's proceeds.

NCI Building Systems Inc. is not selling any shares in the offering, nor are any of its executives or board members.

The company said that it entered a separate deal with Clayton, Dubilier & Rice to buy back about 1.2 million shares of its stock. The closing of the concurrent stock repurchase is contingent on the closing of the underwritten offering. The underwritten offering's closing is not contingent on the closing of the concurrent stock repurchase.