PGT, Inc. (Nasdaq:PGTI) ("PGT") announced today that it had commenced an underwritten secondary offering (the "Offering") of 10,000,000 shares of its common stock by JLL Partners Fund IV, L.P., which owns approximately 61.5% of PGT's outstanding common stock (the "Selling Stockholder"), pursuant to PGT's shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The underwriters of the Offering will have an option to purchase up to 1,500,000 additional shares from the Selling Stockholder. The Selling Stockholder will receive all of the proceeds from the Offering. No shares are being sold by PGT.
PGT is a manufacturer and supplier of residential impact-resistant windows and doors. Co.'s impact-resistant products combine aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris. Co. also manufactures non-impact resistant products in both aluminum and vinyl frames including its SpectraGuard line of products. Co. focuses on both the residential new construction and repair and remodeling end markets. All of Co.'s products carry the PGT brand, and its consumer-oriented products carry an additional, trademarked product name, including WinGuard, Eze-Breeze, SpectraGuard, and PremierVue.
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