BrightView (BV) Prices 21.3M Share IPO at $22/Sh

BrightView Holdings, Inc. (NYSE: BV) today announced the pricing of its initial public offering of 21,300,000 shares of its common stock at $22.00 per share. Shares of BrightView’s common stock are expected to begin trading on the New York Stock Exchange on June 28, 2018 under the symbol “BV,” and the offering is expected to close on July 2, 2018, subject to customary closing conditions. BrightView has granted the underwriters a 30-day option to purchase up to an additional 3,195,000 shares of its common stock.

BrightView will receive net proceeds of approximately $435.1 million after deducting underwriting discounts and commissions and estimated offering expenses and intends to use the net proceeds from the offering to repay borrowings outstanding under its second lien term loan facility and its revolving credit facility and, with all remaining proceeds, to repay borrowings outstanding under its first lien term loan facility.

Goldman Sachs & Co. LLC, J.P. Morgan, KKR Capital Markets and UBS Investment Bank are acting as joint bookrunning managers for the proposed offering, and Baird, Credit Suisse, Macquarie Capital, Jefferies, Mizuho Securities, Morgan Stanley and RBC Capital Markets are also acting as bookrunners for the proposed offering. Nomura, Stifel, William Blair, Moelis & Company and SMBC Nikko are acting as co-managers for the proposed offering.

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