Distribution Solutions Group launches rights offering to raise ~$100M at $45/share, expiring May 30

Distribution Solutions Group, Inc.

Each share of common stock receives one transferable right to buy 0.105 shares at $45.00 per share.
Expected aggregate proceeds of approximately $100 million; net proceeds for general corporate purposes and to fund HIS Company acquisition.
LKCM Affiliates (77% owner) intend to fully exercise their rights and over-subscription rights.
Rights expire at 5:00 p.m. ET on May 30, 2023; record date was May 1, 2023.
Over-subscription right available for stockholders who fully exercise basic rights.

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

Distribution Solutions Group, Inc. entered into Subscription Agent Agreement with Computershare Inc. and Computershare Trust Company, N.A. (effective 2023-05-08).

Action: entry
Counterparty: Computershare Inc. and Computershare Trust Company, N.A.
Effective: 2023-05-08

Exact text from the filing

On May 8, 2023, Distribution Solutions Group, Inc. (the “Company”) entered into a Subscription Agent Agreement (the “Subscription Agent Agreement”) with Computershare Inc. and Computershare Trust Company, N.A. (both, the “Subscription Agent”), pursuant to which the Company engaged the Subscription Agent as the subscription agent in connection with a proposed rights offering

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Distribution Solutions Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-139516

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