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Dec. 6, 2019, 5:51 p.m. EST

Flooring company F5 Finishes files for IPO

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By Claudia Assis

California-based flooring company F5 Finishes Inc. has filed for an initial public offering, seeking to sell $50.6 million worth of shares, according to a Friday filing. F5 said it expects the stock will price between $9 and $11 a share. The company was founded in 2007 and was inactive until 2017 when it was "repurposed" to acquire six companies providing commercial flooring, according to the prospectus. F5 plans to list on the Nasdaq under the symbol FLRZ. "Our goal is to become the leading commercial flooring solutions provider nationally by capitalizing on industry dynamics that we believe create an attractive consolidation opportunity for us," the company said. F5 listed revenue of $82.4 million in the nine months to September 2018 and $86.6 million in the same period this year. Per-share earnings in those nine-month periods were 12 cents in 2018 and 15 cents this year, F5 said.

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