Hydrofarm Holdings Group Announces Pricing of Initial Public Offering
Hydrofarm Holdings Group, a top hydroponics distributor, has set the initial public offering (IPO) price for 8,666,667 shares at $20.00 each. The IPO is scheduled to begin trading on Nasdaq under the ticker symbol HYFM on December 10, 2020, with the closing anticipated on December 14, 2020. An additional 1,300,000 shares may be purchased by underwriters for over-allotments. J.P. Morgan and Stifel are leading the offering, which follows the SEC’s declaration of effectiveness for its registration statement on December 9, 2020.
- Successful pricing of IPO at $20.00 per share.
- Potential additional share sale of 1,300,000 shares.
- Increased capital expected to support business growth and expansion in hydroponics.
- Dilution risk for existing shareholders due to the new share issuance.
PETALUMA, Calif., Dec. 09, 2020 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (“Hydrofarm”), a leading independent branded hydroponics company with a comprehensive distribution platform, today announced the pricing of its initial public offering of 8,666,667 shares of common stock at a price to the public of
J.P. Morgan and Stifel are acting as lead book-running managers for the offering and as representatives of the underwriters. Deutsche Bank Securities, Truist Securities and William Blair are acting as book-running managers for the offering.
The offering is being made only by means of a prospectus. Copies of the prospectus, when available, 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.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission on December 9, 2020. 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. For additional information, please visit: www.hydrofarm.com.
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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