Vernon-Hills based CDW has raised about $396 million from an initial public offering of its common stock.
The information technology company said that the offering of about 23.3 million shares was priced at $17 per share, which was at the low end of its projected $17 to $18 projected price range.
The underwriters have a 30-day option to buy up to an additional 3.5 million shares.
CDW Corp. said in a regulatory filing that it plans to use part of the net proceeds to redeem $156 million senior subordinated notes. It intends to use $24.4 million in proceeds for a one-time payment related to the termination of a management services agreement. The Vernon Hills, Ill., company also plans to use some of the proceeds to exercise its right under an equity clawback provision related to $175 million senior secured notes.
CDW reported 2012 net income of $119 million on revenue of $10.13 billion. In 2011, the company had net income of $17.1 million and revenue of $9.6 billion.
The stock will start trading on the Nasdaq on Thursday under the "CDW" ticker symbol.