The 2020 Mid-Year Economic Update_long

HD Supply Completes Initial Public Offering

Proceeds from the IPO will be used to retire $950 million in debt.

HD Supply Holdings, Inc. (Nasdaq: HDS), Atlanta, GA, the indirect parent of HD Supply, Inc., completed its initial public offering of 53,191,489 shares of common stock at $18 per share. Underwriters also exercised in full their option to purchase from the company an additional 7,978,723 shares of common stock, resulting in a total initial public offering size of 61,170,212 shares of common stock.

The company said it  intends to use the net proceeds from this offering to redeem, repurchase or otherwise acquire or retire all $950 million of HD Supply, Inc.'s outstanding 10.5% Senior Subordinated Notes due 2021 and pay transaction fees and other expenses.

HD Supply is No. 3 on MDM's list of the Top 40 largest industrial distributors in North America. The company reported sales of $8 billion for fiscal year 2012.

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