JLL Partners says owns 56.6% of PGT

By Lisa Kerner

Charlotte, N.C., Aug. 11 - PGT, Inc. investor JLL Partners Fund IV, LP purchased 3,615,944 shares of the company's common stock at the subscription price of $4.20 per share upon the exercise of subscription rights in the company's rights offering.

As a result, JLL said it has a 56.6% stake in PGT.

JLL Fund used $15,186,965 from capital contributions of its partners to acquire the securities, according to a schedule 13D filed with the Securities and Exchange Commission.

On Aug. 6, PGT distributed non-transferable subscription rights to purchase shares of its common stock to stockholders of record as of Aug. 4.

Each stockholder of record received one subscription right for every four shares owned, the filing said.

Each whole subscription right entitles the holder to purchase one share of PGT's common stock at a subscription price of $4.20 per share.

The rights offering expires at 5 p.m. ET on Sept. 4.

JLL beneficially owns 18,079,720 shares of the North Venice, Fla.-based manufacturer and supplier of residential impact-resistant windows and doors.

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