GATES ANNOUNCES SECONDARY OFFERING OF 11,635,224 ORDINARY SHARES
Gates Industrial announced a secondary offering of 11,635,224 ordinary shares by selling stockholders affiliated with Blackstone Inc. The company itself is not offering any shares and will not receive any proceeds from the sale. Goldman Sachs & Co is serving as the book-running manager for the offering. The company has filed a registration statement with the SEC, and interested investors can access documents through the SEC's EDGAR website or request them from Goldman Sachs.
Gates Industrial ha annunciato un'offerta secondaria di 11.635.224 azioni ordinarie da vendere da parte di azionisti affiliati con Blackstone Inc. La società stessa non offre azioni e non riceverà proventi dalla vendita. Goldman Sachs & Co funge da gestore principale per l'offerta. L'azienda ha presentato una dichiarazione di registrazione alla SEC, e gli investitori interessati possono accedere ai documenti attraverso il sito EDGAR della SEC o richiederli a Goldman Sachs.
Gates Industrial anunció una oferta secundaria de 11.635.224 acciones ordinarias por parte de accionistas vinculados a Blackstone Inc. La compañía misma no está ofreciendo acciones y no recibirá ingresos de la venta. Goldman Sachs & Co actúa como gerente principal de la oferta. La empresa ha presentado una declaración de registro ante la SEC, y los inversores interesados pueden acceder a los documentos a través del sitio web EDGAR de la SEC o solicitarlos a Goldman Sachs.
게이츠 인더스트리얼은 11,635,224주의 보편주식을 블랙스톤 주식회사와 관련된 주주들이 판매하는 제2의 공모를 발표했습니다. 회사 자체는 주식을 제공하지 않으며 판매로부터 어떤 수익도 받지 않습니다. 골드만삭스 & 코는 이번 공모의 주관 관리자로 활동하고 있습니다. 회사는 SEC에 등록신청서를 제출하였으며, 관심 있는 투자자들은 SEC의 EDGAR 웹사이트를 통해 문서에 접근하거나 골드만삭스에 요청할 수 있습니다.
Gates Industrial a annoncé une offre secondaire de 11.635.224 actions ordinaires par des actionnaires affiliés à Blackstone Inc. L'entreprise elle-même n'offre aucune action et ne recevra aucun produit de la vente. Goldman Sachs & Co est le gestionnaire principal de l'offre. La société a déposé une déclaration d'enregistrement auprès de la SEC et les investisseurs intéressés peuvent accéder aux documents via le site EDGAR de la SEC ou les demander à Goldman Sachs.
Gates Industrial hat ein sekundäres Angebot von 11.635.224 Stammaktien von Aktionären, die mit Blackstone Inc verbunden sind, angekündigt. Das Unternehmen selbst bietet keine Aktien an und wird aus dem Verkauf keine Einnahmen erzielen. Goldman Sachs & Co fungiert als Bookrunner für das Angebot. Das Unternehmen hat eine Registrierungserklärung bei der SEC eingereicht, und interessierte Investoren können die Dokumente über die EDGAR-Website der SEC abrufen oder sie bei Goldman Sachs anfordern.
- None.
- Significant shareholder (Blackstone) reducing stake through sale of 11.6M shares
- Potential downward pressure on stock price due to large secondary offering
- No proceeds from offering will benefit the company
Insights
The secondary offering of 11.6 million shares by Blackstone represents a significant market event that could impact GTES's stock price and trading dynamics. This move indicates Blackstone's continued reduction of their ownership stake in Gates, following their typical private equity exit strategy. The offering's size represents approximately
The transaction structure, with Goldman Sachs as the sole book-runner, suggests a well-coordinated exit. While the company won't receive any proceeds, the increased float could improve stock liquidity and potentially broaden the institutional investor base. However, large secondary offerings often lead to short-term price pressure as the market absorbs the additional supply of shares.
Gates is not offering any ordinary shares in the Offering and will not receive any proceeds from the sale of ordinary shares in the Offering. Goldman Sachs & Co. LLC is serving as the book-running manager for the Offering.
The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the Offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, the Company, the underwriter or any dealer participating in the Offering will arrange to send you the prospectus if you request it by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Gates:
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to original equipment manufacturers ("OEM") as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications including virtually every form of transportation. Our products are sold in more than 130 countries across our four commercial regions: the
Forward‐Looking Statements and Information:
This press release contains forward-looking statements, which involve risks and uncertainties. Forward-looking statements include all statements that are not historical facts. In some cases you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Forward-looking statements are based on the Company's current expectations and actual results may differ materially. Other risks and uncertainties are more fully described in the section entitled "Item 1A. Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2023, as filed with the SEC, as such factors may be updated from time to time in the Company's periodic filings with the SEC. Investors are urged to consider carefully the disclosure in our filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Gates undertakes no obligation to update or supplement any forward-looking statements as a result of new information, future events or otherwise, except as required by law.
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SOURCE Gates Industrial Corporation plc
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