Why Griffon Shares Are Skyrocketing Today

• Griffon Corp (NYSE: GFF) Board of Directors initiated a process to explore a comprehensive range of strategic alternatives, including a sale.

• Griffon does not intend to comment on the process or disclose further developments until a specific transaction or review conclusion.

• Griffon raised its FY22 adjusted EBITDA guidance for its business segments to $475 million, up 34%, during its Q2 results conference call on April 28, 2022.

• "Notwithstanding the increased guidance for fiscal 2022, and our confidence in our forward outlook, there is a profound disconnect between Griffon's share price and the underlying value of our businesses. Given this disconnect, the Board and management believe it is necessary to consider a review of alternatives, with a focus on maximizing near-term shareholder value creation," commented Ronald J. Kramer, Chairman, and CEO.

• Price Action: GFF shares are trading higher 24.8% at $30.33 on the last check Monday.

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