Hillman Solutions Corp. announced that it expects to receive $375 million in funding from Wells Capital Management Incorporated, Columbia Threadneedle Investments, Jefferies Financial Group Inc.,Asset Management Arm and other investors
January 23, 2021
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Hillman Solutions Corp. entered into subscription agreements for a private placement of 37,500,000 class A common stock at a price of $10 per share for gross proceeds of $375,000,000 on January 24, 2021. The transaction will include participation from investors including Jefferies Financial Group Inc.,Asset Management Arm and co-led by Wells Capital Management Incorporated and Columbia Threadneedle Investments? Small Cap Growth Strategy, a fund managed by Columbia Threadneedle Investments. The Subscription agreements will terminate with no further force and effect upon the earliest to occur of such date and time as the merger agreement is terminated in accordance with its terms the mutual written agreement of Hillman Holdco and the parties to such subscription agreement, if any of the conditions to closing set forth in such Subscription Agreement are not satisfied on or prior to the Closing and, as a result thereof, the transactions contemplated by the Subscription Agreement fail to occur; and July 24, 2021. The shares are subject to a lock up period of 1 year following the closing, subject to termination as early as approximately 180 days after closing if certain trading price targets are met. The transaction will require the approval of the stockholders of company. The transaction is subject to other customary closing conditions, including the receipt of certain regulatory approvals. The transaction is expected to close in the second quarter of 2021. The transaction has been approved by board of directors of the company.
Hillman Solutions Corp. is a provider of hardware-related products and related merchandising services to retail markets in North America. Its segments include Hardware and Protective Solutions, Robotics and Digital Solutions, and Canada. The Hardware and Protective Solutions segment includes a selection of product categories, including fasteners, builders' hardware, wall hanging, threaded rod and metal shapes, letters, numbers and signs (LNS), and personal protection equipment. The Robotics and Digital Solutions segment consists primarily of software-enabled robotic key duplication and engraving solutions that are tailored to the needs of the consumer. The Canada segment distributes fasteners and related hardware items, threaded rods, keys, key duplicating systems, accessories, and identification items, such as tags and letters, numbers, and signs to hardware stores, home centers, mass merchants, industrial distributors, automotive aftermarket distributors, and other retail outlets.
Hillman Solutions Corp. announced that it expects to receive $375 million in funding from Wells Capital Management Incorporated, Columbia Threadneedle Investments, Jefferies Financial Group Inc.,Asset Management Arm and other investors