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Report: AZEK Files for IPO with the SEC

General News

On February 7, 2020, CPG Newco, LLC, filed a S-1 Registration Statement under The Securities Act of 1933.

Per the filing, CPG Newco, LLC has “applied to list our Class A common stock on the New York Stock Exchange under the symbol “AZEK”. ”

In the year ending September 30, 2019, CPG Newco, LLC, had $1,788,263,000 in Total Assets, $1,298,240,000 in Total Liabilities & $490,023,000 in Total Member’s Equity. Net Sales for the year were $794,203,000 which resulted in a Net Loss of ($20,196,000).

Further more, “CPG Newco LLC intends to convert into a Delaware corporation pursuant to a statutory conversion and change its name to The AZEK Company Inc. as described in the section “Corporate Conversion” of the accompanying prospectus. In addition, a special purpose entity, CPG Holdco LLC, which was formed at the time of the acquisition of CPG Newco LLC solely for the purpose of holding membership interests in CPG Newco LLC and that will continue to hold such interests until the Corporate Conversion, will be merged with and into us. In the accompanying prospectus, we refer to all of the transactions related to our conversion to a corporation and the merger described above as the Corporate Conversion. As a result of the Corporate Conversion, the members of CPG Newco LLC will become holders of shares of Class A common stock and Class B common stock of The AZEK Company Inc. Except as disclosed in the prospectus, the Consolidated Financial Statements and selected historical consolidated financial data and other financial information included in this registration statement are those of CPG Newco LLC and its subsidiaries and do not give effect to the Corporate Conversion. Shares of Class A common stock of The AZEK Company Inc. are being offered by the prospectus.”

The full S-1 Registration Statement can be read here.

Source: U.S. Securities and Exchange Commission