Hydrofarm Holdings Group Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase...
December 14 2020 - 4:05PM
Hydrofarm Holdings Group, Inc. (“Hydrofarm”) (Nasdaq: HYFM), a
leading independent branded hydroponics company with a
comprehensive distribution platform, today announced the closing of
its initial public offering of 9,966,667 shares of common stock,
including the full exercise by the underwriters of their option to
purchase 1,300,000 additional shares of common stock, at a price to
the public of $20.00 per share. The shares are listed for trading
on the Nasdaq Global Select Market under the ticker symbol “HYFM.”
The net proceeds to Hydrofarm from the offering, after deducting
the underwriter discounts and commissions and estimated offering
expenses, were approximately $182.5 million.
J.P. Morgan and Stifel served as lead
book-running managers for the offering and as representatives of
the underwriters. Deutsche Bank Securities, Truist Securities and
William Blair served as book-running managers for the offering.
A registration statement on Form S-1 relating to
these securities was declared effective by the Securities and
Exchange Commission (“SEC”) on December 9, 2020. A final prospectus
relating to the offering was filed with the SEC and is available on
the SEC’s website at http://www.sec.gov. Copies of the final
prospectus may be obtained from: J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by email at prospectus-eq_fi@jpmorgan.com or by telephone
at (866) 803-9204; or Stifel, Nicolaus & Company, Incorporated,
Attention: Prospectus Department, One Montgomery Street, Suite
3700, San Francisco, CA 94104 or by telephone at (415) 364-2720 or
by email at syndprospectus@stifel.com.
This press release does not constitute an offer
to sell or the 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.
About Hydrofarm Holdings Group,
Inc.
Hydrofarm is a leading independent distributor
and manufacturer of hydroponics equipment and supplies for
controlled environment agriculture, including high-intensity grow
lights, climate control solutions, and growing media, as well as a
broad portfolio of innovative and proprietary branded products. For
over 40 years, Hydrofarm has helped growers make growing easier and
more productive. The Company’s mission is to empower growers,
farmers and cultivators with products that enable greater quality,
efficiency, consistency and speed in their grow projects.
Contacts:
Media ContactCory Ziskind /
ICR(646) 277-1232Cory.ziskind@icrinc.com
Investor ContactFitzhugh Taylor
/ ICRir@hydrofarm.com
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