Hydrofarm holdings group announces pricing of upsized public offering of common stock

Fairless hills, pa., april 28, 2021 (globe newswire) -- hydrofarm holdings group, inc. (“hydrofarm” or the “company”) (nasdaq: hyfm), a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, today announced the pricing of an underwritten upsized public offering of 4,805,967 shares of its common stock at a public offering price of $59.00 per share. the net proceeds to the company from this offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the company, are expected to be approximately $269.3 million. all shares of common stock are being offered by hydrofarm. in addition, the company has granted the underwriters a 30-day option to purchase up to an additional 720,894 of its common stock at the public offering price, less the underwriting discounts and commissions. the offering is expected to close on may 3, 2021, subject to the satisfaction of customary closing conditions.
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