As GlobeNewswire reports, in order to take advantage of the improving economy and growth of the new home construction market, BlueLinx Holdings Inc. (NYSE:BXC) of Atlanta has filed a planned rights offering with the Securities and Exchange Commission (SEC) to offer $40 million worth of common stock, $38.8 million of it to pay down debt. The company says the funds will give it a stronger liquidity position from which to operate as demand increases. Majority stockholder Cerberus may exercise its right to purchase the full amount to which it is entitled. As MHProNews has learned, through its subsidiary BlueLinx Corp., the company distributes over 10,000 building products from 750 suppliers to the manufactured housing industry as well as to other residential builders and industrial manufacturers. The company has 55 distribution centers nationwide.
