Hydrofarm Holdings Group’s $310.6 Million Follow-on Offering

Davis Polk advised the underwriters in the offering.

Hydrofarm Holdings Group, Inc. executed its $310.6 million follow-on public offering of 5,526,861 shares of common stock, which includes 720,894 shares from the full exercise of the underwriters’ option to purchase additional shares. Hydrofarm Holdings Group, Inc. is listed on the Nasdaq Global Select Market under the symbol “HYFM.”

J.P. Morgan Securities LLC, Stifel, Nicolaus & Company, Incorporated, Deutsche Bank Securities Inc., Truist Securities, Inc. and William Blair & Company, L.L.C. acted as underwriters for the offering.

Based in Fairless Hills, Pennsylvania, Hydrofarm is a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, including high-intensity grow lights, climate control solutions and growing media, as well as a broad portfolio of innovative and proprietary branded products. For over 40 years, Hydrofarm has helped growers make growing easier and more productive. Hydrofarm’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects.

The Davis Polk capital markets team advising underwriters included partner Byron B. Rooney (Picture) and associates Joanna Sedlak and Russell Quarles. Associate Christopher C. Woller provided intellectual property advice. Partner Margaret E. Tahyar and associate Genevieve A. Lewis provided regulatory advice. The tax team included partner Po Sit. Counsel Marcie A. Goldstein provided FINRA advice. 

Involved fees earner: Marcie Goldstein – Davis Polk & Wardwell; Genevieve Lewis – Davis Polk & Wardwell; Russell Quarles – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Joanna Sedlak – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Deutsche Bank Securities; J.P. Morgan Securities LLC; Stifel, Nicolaus & Company, Incorporated; Truist Securities Inc. ; William Blair & Company, L.L.C.;

Author: Martina Bellini