LSB Industries executes secondary offering of 14.35M shares and $45.5M share repurchase from underwriters

LSB INDUSTRIES, INC.

Secondary offering of 14,350,000 common shares (plus 1,627,500 option shares) by selling stockholder LSB Funding LLC at $12.99375/share.
Underwriters exercised option to purchase all optional shares; total shares sold by selling stockholder: 15,977,500.
Company repurchased 3,500,000 shares from underwriters for $45,478,125 using cash on hand.
After repurchase, approximately $29.5 million remains authorized under existing share repurchase program.
Offering closed on November 10, 2022; registration statement effective since March 28, 2022.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LSB INDUSTRIES, INC. entered into Underwriting Agreement with UBS Securities LLC and Goldman Sachs & Co. LLC as representatives of the several underwriters named therein, and LSB Funding LLC (effective 2022-11-07).

Action: entry
Agreement: underwriting
Counterparty: UBS Securities LLC and Goldman Sachs & Co. LLC as representatives of the several underwriters named therein, and LSB Funding LLC
Effective: 2022-11-07

Exact text from the filing

On November 7, 2022, LSB Industries, Inc., a Delaware corporation (the “ Company ”), entered into an Underwriting Agreement (the “ Underwriting Agreement ”) by and among the Company, UBS Securities LLC and Goldman Sachs & Co. LLC as representatives of the several underwriters named therein (excluding the Company, the aforementioned together the “ Underwriters ”) and LSB Funding LLC (the “ Selling Stockholder ”), relating to the underwritten offering of 14,350,000 shares (the “ Firm Shares ”) of the Company’s common stock

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LSB INDUSTRIES, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-282574

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