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Heritage-Crystal Clean plans to price public offering of common stock
Funds to repay debt and for corporate purposes; William Blair assists
By Devika Patel
Knoxville, Tenn., April 16 - Heritage-Crystal Clean, Inc. said it plans to price a public offering of its common stock. The deal will have a 30-day greenshoe option.
The company will sell about 2.3 million shares at a price to be determined by market conditions, with an additional 345,500 shares to be sold as part of the greenshoe.
William Blair & Co., LLC is the bookrunner, and Robert W. Baird & Co. Inc and Needham & Co., LLC are co-managers.
The company will use the proceeds to reduce debt and for general corporate purposes.
Heritage-Crystal is an Elgin, Ill.-based provider of parts cleaning and containerized waste services.
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