Hydrofarm Holdings Group Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Hydrofarm Holdings Group, a leader in hydroponics, has successfully closed its initial public offering, selling 9,966,667 shares at $20.00 each, raising approximately $182.5 million in net proceeds. This includes the full exercise of an underwriter option for 1,300,000 additional shares. The company's shares are now trading on Nasdaq under the symbol HYFM. J.P. Morgan and Stifel led the offering, with other firms participating as book-running managers. The registration statement was made effective by the SEC on December 9, 2020.
- Raised approximately $182.5 million from the IPO.
- Successful execution of the offering with full exercise of underwriter's option.
- None.
PETALUMA, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) -- 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
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 Contact
Cory Ziskind / ICR
(646) 277-1232
Cory.ziskind@icrinc.com
Investor Contact
Fitzhugh Taylor / ICR
ir@hydrofarm.com
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