Compass Diversified Holdings reduces ownership in Fox Factory Holding from 23% to 14%.
BANKING AND CREDIT NEWS-November 29, 2016-Compass Diversified Holdings reduces ownership in Fox Factory Holding from 23% to 14%
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Compass Diversified Holdings (NYSE: CODI) has announced that Fox Factory Holding Corp. (Nasdaq: FOXF) closed on a secondary public offering of 4,025,000 shares of FOX common stock held by certain FOX stockholders, including CODI, the company said.
CODI sold a total of 3.5 million shares of FOX common stock in the secondary public offering for total net proceeds of approximately USD71.8 million.
Upon completion of the offering, CODI's ownership in FOX was reduced from approximately 23% to 14% or 5,108,718 shares of FOX's common stock.
CODI owns and manages a diverse family of established North American middle market businesses.
The company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the company and to make cash distributions to its shareholders.
FOX designs and manufactures high-performance suspension products primarily for mountain bikes, side-by-side vehicles, on-road and off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Nov 29, 2016|
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