Griffon Corporation | Stephens

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Fairness Opinion

Griffon Corporation

$16.7 Million 09/05/2023 Diversified Industrials & Services Complete
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Transaction Details

On September 5, 2023 Griffon Corporation (“Griffon” or the “Company”) entered into an agreement to repurchase, and repurchased, 400,000 shares of its common stock, par value $0.25 per share (the "Common Stock"), beneficially owned by two separately managed accounts of which Voss Capital, LLC is the investment manager (the "Selling Shareholders"), in a private transaction to facilitate redemptions by investors in the Selling Shareholders

  • The purchase price per share was $41.8656, for an aggregate purchase price of $16,746,240, and represented a 2% discount from the price of $42.72 of the Common Stock at the close of trading on September 1, 2023
  • The Selling Shareholders are affiliates of Voss Capital, LLC. Travis W. Cocke, the Founder, Chief Investment Officer and Managing Member of Voss Capital, LLC, is a member of the Board of Directors of the Company

About the company

Griffon Corporation

Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

The Company was founded in 1959, is a Delaware corporation headquartered in New York, N.Y. and is listed on the New York Stock Exchange (NYSE:GFF).

Sources: Company filings.
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