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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Jul. 25, 11:56 AM

Slide #18. Summit Materials, Inc. Secondary Offering

Company: Summit Materials, Inc. (NYSE:SUM)
Date announced: 7/13/2016
Shares Offered: 12,500,000
Date of Pricing: 7/13/2016
Price Per Share: $20.75
Secondary Offering Details: Summit Materials, Inc. (NYSE:SUM,Summit) announced today that certain selling stockholders, including affiliates of The Blackstone Group L.P., have commenced a secondary offering of 12.5 million shares of Class A common stock. -updated 7/13- Summit Materials, Inc. (NYSE:SUM,Summit) announced today the pricing of a secondary offering of 12.5 million shares of Class A common stock by certain selling stockholders, including affiliates of The Blackstone Group L.P., at a public offering price of $20.75 per share. The offering is expected to close on July 19, 2016, subject to customary closing conditions.

Summit Materials is a holding company. Co. is a construction materials company that engages in the production and sale of aggregates, cement, ready-mixed concrete and asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, cement plants, cement distribution terminals, ready-mixed concrete plants, asphalt plants and landfill sites. Co. has three segments: West, which operates in Texas, Utah, Colorado, Idaho, Wyoming and Canada; East, which serves markets in the Midwestern and Eastern U.S.; and Cement, which consists of Co.'s Hannibal, MO and Davenport, IA cement plants and distribution terminals along the Mississippi River from Minnesota to Louisiana.

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Company Name:  Summit Materials Inc
Sector:  Metals & Mining
Number of ETFs Holding SUM:  20
Total Market Value Held by ETFs:  $37.08M

Open the SUM Page at The Online Investor (in a new window) »

July 25, 2016    11:56 AM Eastern
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Strong Buy (3.86 out of 4)
82nd percentile
(ranked higher than approx. 82% of all stocks covered)
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