AZEK readies for public offering
Building products manufacturer AZEK is eyeing a public offering.
CPG Newco LLC, otherwise known as the AZEK Company, announced that it has submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The move is related to a proposed initial public offering of shares of common stock following AZEK’s conversion into a corporation.
AZEK said it has yet to determine the offering price and the number of shares that will be offered.
The Chicago-based company said that it intends to use net proceeds from the offering primarily to redeem AZEK’s outstanding 8% senior notes due 2021 and for general corporate purposes.
The timing and other terms of the proposed offering remain subject to market and other conditions, the company said.
AZEK’s four business units include AZEK Building Products, Versatex, Scranton Products and Vycom. The outdoor living division of AZEK Building Products includes TimberTech decking.
CPG Newco LLC, otherwise known as the AZEK Company, announced that it has submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The move is related to a proposed initial public offering of shares of common stock following AZEK’s conversion into a corporation.AZEK said it has yet to determine the offering price and the number of shares that will be offered.
The Chicago-based company said that it intends to use net proceeds from the offering primarily to redeem AZEK’s outstanding 8% senior notes due 2021 and for general corporate purposes.
The timing and other terms of the proposed offering remain subject to market and other conditions, the company said.
AZEK’s four business units include AZEK Building Products, Versatex, Scranton Products and Vycom. The outdoor living division of AZEK Building Products includes TimberTech decking.