Loar Holdings Inc. Announces Upsized Public Offering Price
Loar Holdings Inc., based in White Plains, NY, is making moves in the market with news of an upsized public offering. The company announced the pricing of 5,750,000 shares of its common stock at $85.00 per share. This offering includes 1,897,500 shares from certain stockholders and 3,852,500 shares from Loar itself. The underwriters have the option to purchase an additional 862,500 shares at the same price, less fees.
The offering is expected to close on December 12, 2024, pending standard closing conditions. Loar plans to use the net proceeds to repay borrowings under its credit agreement and for general corporate purposes, like working capital. Notably, Loar will not directly receive any proceeds from the sale of shares by the stockholders.
Leading the offering are Jefferies and Morgan Stanley as lead book runners, with Moelis as the joint book runner. Citigroup and RBC Capital Markets are also onboard as book runners, and Blackstone is acting as a co-manager. The SEC has declared the registration statement for these securities effective, and the offering will proceed via a prospectus available through the specified contacts.
It’s important to note that this press release does not constitute an offer to sell securities, and any sales will adhere to the securities laws in relevant jurisdictions. For interested investors, more details about the offering can be obtained by contacting the respective firms handling the offering.
In conclusion, Loar Holdings Inc. is navigating an exciting financial path with this public offering, showcasing strategic moves in the market. Stay tuned for further updates on this development from this dynamic company.
