Distribution Solutions Group Inc. DSG or the Company, a top specialized distribution firm, said today that its board of directors has set May 1, 2023 as the record date for its planned rights offering the Record Date.
DSG expects to raise up to $100 million in aggregate gross proceeds from the Rights Offering, in which holders of DSG’s common stock as of the Record Date will be granted the right to purchase shares of DSG’s common stock.
DSG anticipates that the net proceeds from the proposed Rights Offering will be used for general corporate purposes, as well as to fund, in conjunction with its committed credit facility, the acquisition of all of the issued and outstanding capital stock of HIS Company, Inc., a Texas corporation Hisco, pursuant to a Stock Purchase Agreement dated March 30, 2023 by and among the Company, Hisco, GreatBanc Trust Company, as trustee of the HIS Company, Inc. Employee Stock Ownership Trust, and.
Distribution Solutions Group, Inc. DSG or the Company, a top specialized distribution firm, said today that its board of directors has set May 1, 2023 as the record date for its planned rights offering the Record Date.
DSG expects to raise up to $100 million in aggregate gross proceeds from the Rights Offering, in which holders of DSG’s common stock as of the Record Date will be granted the right to purchase shares of DSG’s common stock.
Distribution Solutions Group DSG is a leading specialty distribution company that offers high-touch, value-added distribution solutions to the maintenance, repair, and operations MRO, original equipment manufacturer OEM, and industrial technology industries.
DSG was formed by the strategic merger of Lawson Products, Inc., a leader in C-parts MRO distribution; 301 HW Opus Holdings, Inc., doing business as Gexpro Services, a leading global supply chain services provider to manufacturing customers; and TestEquity Acquisition, LLC, a leader in electronic test and measurement solutions.
DSG is committed to lowering clients’ total cost of operation by enhancing productivity and efficiency with the correct goods, competent technical support, and timely, dependable delivery as a one-stop solution provider through its group businesses.
