King & Spalding advised SiteOne Landscape Supply, Inc. (NYSE: SITE), in its underwritten public offering of 2,150,000 shares of its common stock, $0.01 par value per share. SiteOne has granted the underwriter a 30-day option to purchase up to an additional 322,500 shares of its common stock. The approximate gross proceeds to SiteOne from the sale of shares of common stock in the offering are expected to be $262.3 million (or $301.6 million if the underwriter exercises its option to purchase additional shares in full). SiteOne intends to use the net proceeds from the offering for general corporate purposes.
SiteOne is the largest and only national wholesale distributor of landscape supplies in the United States and has a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces.