Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On October 5, 2021, the Company completed its IPO, in which the Company sold 10,877,850 shares of common stock at the initial public offering price of $18.00 per share, which included the full exercise by the underwriters of their option to purchase up to an additional 1,418,850 shares of common stock. The Company received aggregate net proceeds of $182.1 million after deducting underwriting discounts and commissions of $13.7 million. The net proceeds were received on October 5, 2021 and were used to repay $182.1 million of borrowings outstanding under the Senior Credit Facilities.
None of the expenses associated with the IPO were paid to directors, officers, persons owning 10% or more of any class of the Company’s equity securities or to their associates or to our affiliates. BofA Securities Inc., Goldman Sachs & Co. LLC and Jefferies LLC acted as representatives of the underwriters for the offering.
The IPO closed on October 5, 2021. The offering terminated after all of the shares of common stock were sold.
There was no material change in the planned use of proceeds from the IPO as described in the IPO Prospectus.
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
Not applicable
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