Stock Building to repay $60 million of revolver with stock proceeds

By Marisa Wong

Madison, Wis., June 14 - Stock Building Supply Holdings, Inc. plans to pay about $60 million of outstanding balances under its revolver due December 2016 using proceeds from an offering of common stock, according to an S-1 filed with the Securities and Exchange Commission.

Remaining proceeds from the stock sale will be used to pay a fee to terminate a management services agreement with Gores and for working capital and general corporate purposes.

The building materials supplier is based in Raleigh, N.C.

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