Concrete Pumping Holdings, Inc. Announces Pricing of Follow-on Public Offering

DENVER, May 10, 2019 (GLOBE NEWSWIRE) -- Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (“CPH” or the “Company”), a leading provider of concrete pumping services and concrete waste management services in the U.S. and U.K., today announced the pricing of its follow-on public offering of 16,000,000 shares of its common stock at a price to the public of $4.50 per share resulting in gross proceeds of $72,000,000. The offering is expected to close on May 14, 2019, subject to customary closing conditions. In addition, CPH has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of its common stock at the public offering price.

CPH intends to use the net proceeds from the offering to finance a portion of the previously announced acquisition of Capital Pumping, LP and its affiliates (the “Capital Acquisition”), as well as transaction costs incurred in connection with the Capital Acquisition. Any proceeds from the offering in excess of amounts used to pay costs related to the Capital Acquisition will be used for general corporate purposes, including working capital and capital expenditures. If the Capital Acquisition is not consummated, CPH intends to use the proceeds from the offering for general corporate purposes.

UBS Investment Bank and Baird are acting as Lead Bookrunning Managers for the offering. Stifel and William Blair are also acting as Joint Bookrunning Managers for the offering.

The proposed offering will be made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at 888-827-7275 or by email at olprospectusrequest@ubs.com; Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, by telephone at 800-792-2413 or by email at syndicate@rwbaird.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contact:

Gateway Investor Relations
Cody Slach or Jared Filippone, CFA
1-949-574-3860
BBCP@gatewayir.com

Released May 10, 2019