The AZEK Company Inc. (formerly CPG Newco LLC) (AZEK), an industry-leading manufacturer of beautiful, low-maintenance residential and commercial building products, has announced the closing of its initial public offering of 38,237,500 shares of its Class A common stock, including the exercise in full by the underwriters of their option to purchase up to 4,987,500 additional shares of Class A common stock, at a price to the public of US$23 per share. The aggregate net proceeds to AZEK from the offering were approximately US$816.9 million, after deducting underwriting discounts and commissions and estimated offering expenses. All of the shares in the offering were offered by AZEK. AZEK’s Class A common stock began trading on the New York Stock Exchange on June 12, 2020 under the ticker symbol "AZEK."
Latham & Watkins LLP represented the underwriters in the offering with a corporate team led by Washington, D.C. partner Rachel Sheridan, with associates Samuel Rettew, Lyndy Amato, Trevor Kim, and Kavita Satiya.