The AZEK Company, which manufactures composite residential and commercial building products, announced terms for its IPO on Monday.
The Chicago, IL-based company plans to raise $625 million by offering 31.3 million shares at a price range of $19 to $21. At the midpoint of the proposed range, The AZEK Company would command a fully diluted market value of $2.8 billion.
The AZEK Company was founded in 1983 and booked $848 million in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol AZEK. Barclays, BofA Securities, Goldman Sachs, Jefferies, Citi, Credit Suisse, Deutsche Bank, and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2020.
