Business
Construction Partners, Inc. Announces Secondary Offering of Class A Common Stock
DOTHAN, Ala., March 18, 2021 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ:ROAD) ("CPI" or the "Company") today announced that certain affiliates of
About this update from Construction Partners, Inc.
[{"type":"text","content":"DOTHAN, Ala., March 18, 2021 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ:ROAD) (\"CPI\" or the \"Company\") today announced that certain affiliates of SunTx Capital Management Corp. (the \"selling stockholders\") intend to offer 2,000,000 shares of the Company's Class A common stock in an underwritten secondary offering. The selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of Class A common stock.\nThe selling stockholders will receive all of the net proceeds from the offering. The Company is not selling any shares of Class A common stock in the offering and will not receive any proceeds from such offering.\nBaird is acting as the sole bookrunning manager for the proposed offering.\nThe shares are being offered pursuant to an automatic shelf registration statement on Form S-3ASR, which became automatically effective upon filing with the Securities and Exchange Commission (the \"SEC\") on March 18, 2021. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which, when available, may be obtained on the SEC's website, www.sec.gov, or from Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by telephone at (800) 792-2473, or by email at [email protected].\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout CPI\nConstruction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 48 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company's public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.\nForward-Looking Sta...