BlueLinx Announces Expiration of $60 Million Rights Offering

BlueLinx Holdings Inc. BXC today announced the expiration of the subscription period for its previously announced $60 million rights offering. The subscription period for the rights offering expired at 5:00 p.m., New York City time, on July 22, 2011. The rights offering was fully subscribed and, as a result, BlueLinx expects to receive net proceeds of approximately $58.5 million from the offering. Following the issuance of the newly subscribed shares, which is expected to occur on or about July 28, 2011, BlueLinx will have approximately 61.8 million total shares outstanding. Cerberus ABP Investor LLC, BlueLinx' majority stockholder, as previously announced, entered into an investment agreement with the Company to backstop the rights offering, subject to certain conditions, by purchasing shares of common stock that relate to any rights that remained unexercised at the expiration of the rights offering. Following the completion of these transactions, Cerberus ABP Investor LLC will beneficially own approximately 55% of BlueLinx' common stock.