BLUE BELL, Pa. - BrightView Holdings , Inc. (NYSE: NYSE:BV), the nation's largest commercial landscaper, has announced the pricing of a secondary offering of 17.5 million shares of common stock. The shares are being offered by an affiliate of KKR & Co. Inc., with all proceeds from the sale going to the selling stockholder. BrightView itself is not selling any shares in this transaction.
The offering is slated to close on Wednesday, subject to the usual closing conditions. KKR, along with Craig-Hallum, CJS Securities, Morgan Stanley, and Loop Capital Markets, are serving as the joint book-running managers. The shares are to be distributed to a group of institutional investors, with T. Rowe Price Investment Management Inc. leading the group.
This offering follows the effectiveness of a registration statement filed by BrightView with the U.S. Securities and Exchange Commission (SEC). The securities are being offered by means of a prospectus supplement and an accompanying prospectus, which are available through the book-running managers. The SEC's website also provides access to these documents.
BrightView is recognized for its landscaping and snow and ice removal services across various sectors in the United States. The company also serves as the Official Field Consultant to Major League Baseball and emphasizes sustainable solutions and industry-leading best practices.
The press release includes forward-looking statements, which are based on current expectations and assumptions and are subject to risks, uncertainties, and changes in circumstances. Potential investors are encouraged to consider the risk factors detailed in BrightView's annual report and periodic filings with the SEC, which are available on the SEC’s website.
The information in this article is based on a press release statement from BrightView Holdings, Inc.
InvestingPro Insights
BrightView Holdings, Inc. (NYSE: BV) has been navigating a dynamic market landscape, and recent data from InvestingPro provides a glimpse into their financial performance and stock market activity.
With a market capitalization of $1.27 billion USD and a P/E ratio of 43.06, the company presents an interesting case for investors. Notably, the company's stock has seen a significant return over the last week, with an 8.0% price total return, and has maintained a strong performance over longer periods, including a 105.79% return over the last year.
InvestingPro Tips for BrightView indicate that net income is expected to grow this year, which aligns with the company's focus on expansion and operational efficiency. Moreover, three analysts have revised their earnings upwards for the upcoming period, signaling potential optimism in the company's financial prospects.
For those interested in further insights, there are additional tips available on InvestingPro, which can be accessed with a special offer. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the wealth of knowledge that could help inform your investment decisions.
The company's recent secondary offering of shares indicates a strategic move by KKR & Co. Inc., and with BrightView trading near its 52-week high, at 98.14% of the peak price, investors may want to keep a close eye on how this offering impacts the market. The company's commitment to sustainable practices and industry leadership, coupled with its financial performance and analyst revisions, positions it as a noteworthy entity in the landscaping sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.