Initial Public Offering

On August 14, 2013, the Company completed its Initial Public Offering ("IPO") of 7,000,000 shares of common stock at a price of $14.00 per share. A total of 4,411,765 shares were offered by the Company and a total of 2,588,235 shares were sold by Gores Building Holdings, LLC and other selling stockholders of the Company. In connection with the IPO, the underwriters exercised in full their option to purchase an additional 1,050,000 shares of common stock from certain selling stockholders. As a result, the total IPO size was 8,050,000 shares. The Company received net proceeds of $55,821 after deducting underwriting discounts of $4,324 and other expenses directly associated with the IPO of $1,620, including legal, accounting, printing and roadshow expenses. The Company incurred an additional $596 of expenses directly associated with the IPO that were not paid as of September 30, 2013, of which $347 and $249 are included in accounts payable and accrued expenses and other liabilities, respectively, on the condensed consolidated balance sheets. The underwriting discounts and other expenses directly associated with the IPO have been recorded in additional paid-in-capital as a reduction of the IPO proceeds on the condensed consolidated balance sheets as of September 30, 2013. The Company used $46,821 of the net proceeds to pay down outstanding balances under the Revolver and $9,000 was paid to The Gores Group, LLC ("Gores") to terminate our management services agreement with Gores.

Upon the closing of the IPO, all outstanding shares of the Company’s Class A common stock and Class B common stock were reclassified and converted into an equal number of shares of a single class of common stock, all outstanding options to purchase Class B common stock held by certain members of management were reclassified and converted into options to purchase an equal number of shares of common stock and all outstanding Redeemable Class A Junior Preferred stock, Redeemable Class B Senior Preferred stock and Convertible Class C Preferred stock were reclassified and converted into an aggregate of 7,191,891 shares of the Company’s common stock. See Note 14 for a discussion of equity awards issued in connection with the IPO.

As a result of the IPO, the Company expensed certain costs associated with the offering that were not directly attributable to the securities offered. The following table summarizes these costs for the three and nine months ended September 30, 2013:



	Three months Ended September 30, 2013		Nine Months Ended September 30, 2013
Management services agreement termination fee paid to Gores	$	9,000	$	9,000
Other IPO transaction-related costs	322		1,008
	$	9,322	$	10,008