Loar Launches Public Offering

Loar Holdings Inc. (NYSE: LOAR) has kicked off its roadshow for a public offering of 4,750,000 shares of its common stock. This includes 1,583,333 shares being offered by certain stockholders and 3,166,667 shares offered by Loar. Additionally, the selling stockholders plan to give the underwriters a 30-day option to buy up to 712,500 additional shares of common stock at the public offering price, minus underwriting discounts and commissions.

The net proceeds from this offering will be used by Loar to repay borrowings under its credit agreement. Any remaining proceeds will be allocated towards general corporate purposes, including working capital. It’s important to note that Loar will not receive any proceeds from the sale of common stock offered by the selling stockholders, even if the underwriters exercise their option to purchase additional shares.

Leading the proposed offering are Jefferies and Morgan Stanley as lead book runners, with Moelis as joint book runner. Citigroup and RBC Capital Markets are also on board as book runners, and Blackstone is acting as co-manager.

This offering will be conducted through a prospectus filed with the U.S. Securities and Exchange Commission (SEC). For those interested, copies of the preliminary prospectus related to the offering can be obtained by contacting Jefferies LLC, Morgan Stanley & Co. LLC, and Moelis & Company LLC.

While a registration statement has been filed with the SEC, the securities involved in the offering cannot be sold until the registration statement becomes effective. It’s essential to understand that this press release does not constitute an offer to sell or a solicitation to buy. The offering is subject to market conditions, and there is no definite guarantee that it will be completed or on what terms.

Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components crucial for modern aircraft and aerospace and defense systems. The company has strong relationships with leading aerospace and defense OEMs and Tier Ones globally.

Please note that the statements in this press release regarding the public offering are forward-looking and based on current expectations and projections. These forward-looking statements involve risks, uncertainties, and assumptions that are hard to predict, and actual results may differ materially from what is stated here.

For any further information, you can contact Loar Holdings Investor Relations at IR@loargroup.com.

Remember, any forward-looking statements in this press release only reflect the date of release and Loar has no obligation to update them unless required by law. For more details, you can view the original press release on ACCESSWIRE.