Vertiv Holdings Co - VRT STOCK NEWS

Vertiv Holdings Co (NYSE: VRT) has amended its Tax Receivable Agreement (TRA) with VPE Holdings, LLC, allowing for the payment of $100 million to extinguish outstanding obligations. The payments are split into two installments due by June 15 and September 15, 2022. This amendment is expected to result in a positive pre-tax earnings impact of approximately $60 million in Q4 2021, although it won't affect adjusted earnings per share. Vertiv's CFO noted that this move enhances cash flow and eliminates long-term liability uncertainty.

Vertiv (NYSE: VRT) has declared its annual cash dividend of $0.01 per share for Class A common stock. This dividend will be payable on December 16, 2021, to shareholders of record as of December 1, 2021. Vertiv is a global provider of critical digital infrastructure and continuity solutions, operating in over 130 countries with approximately 21,000 employees. The company specializes in power, cooling, and IT infrastructure solutions to support data centers and communication networks, ensuring optimal performance and reliability.

Vertiv Holdings Co (NYSE: VRT) announced a secondary offering of 20 million shares of its Class A common stock, priced as part of a registration statement with the SEC. The offering is led by VPE Holdings, LLC, an affiliate of Platinum Equity, LLC. An additional 3 million shares may be purchased by underwriters within 30 days. The offering's closing is expected around November 4, 2021. Post-offering, Platinum will remain Vertiv's largest shareholder with approximately 9.8% ownership. Notably, Vertiv will not sell any shares or receive proceeds from this offering.

Vertiv Holdings Co (NYSE: VRT) has announced a secondary offering of up to 20 million shares of its Class A common stock by VPE Holdings, LLC, an affiliate of Platinum Equity, LLC. The offering is expected to close around November 4, 2021, subject to customary conditions. Post-offering, Platinum will maintain a 9.8% stake in Vertiv with 36,880,215 shares. Vertiv will not sell any shares or receive proceeds from this offering, which is managed by J.P. Morgan, Goldman Sachs, and Citigroup.

Vertiv Holdings Co (NYSE: VRT) has successfully completed its acquisition of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC. This strategic acquisition strengthens Vertiv’s portfolio of in-building power train offerings, targeting data centers and key commercial markets. Vertiv’s CEO highlighted the talent and capabilities of the E&I team, emphasizing the potential for value creation for customers and shareholders. The acquisition is expected to enhance Vertiv’s global reach and service capabilities in the critical digital infrastructure sector.

Vertiv Holdings Co (NYSE: VRT) reported strong Q3 2021 results, with net sales of $1,229 million, up 5.8% year-over-year. The company achieved a record backlog of $2.4 billion, a 34% increase from 2020. Adjusted operating profit reached $131 million, with a margin of 10.7%. Diluted EPS rose to $0.15, up from $0.47. Operating cash flow year-to-date was $175 million, reflecting a $160 million increase. The E+I acquisition is expected to close by November 1, 2021, while the divestiture of the heavy industrial UPS business is anticipated by Q4 2021. Despite supply chain challenges, demand remains robust.

Vertiv Holdings Co (NYSE: VRT) announced the successful completion of an offering of $850 million in 4.125% Senior Secured Notes due 2028. The proceeds will fund the cash portion of its pending acquisition of E&I Engineering Ireland Limited and its affiliate Powerbar Gulf LLC, along with related fees and expenses. The Notes will not be registered under the Securities Act, limiting their sale within the United States. This move aims to enhance Vertiv's capabilities in the critical digital infrastructure sector.

Vertiv Holdings Co (NYSE: VRT) has priced an offering of $850 million in Senior Secured Notes due 2028 at a 4.125% interest rate. The net proceeds will finance the acquisition of E&I Engineering Ireland Limited and Powerbar Gulf LLC and cover related fees. The offering is expected to close on October 22, 2021. The Notes will not be registered under the Securities Act and will be sold to qualified institutional buyers and certain offshore investors.

Vertiv Holdings Co (NYSE: VRT) announced a private placement offering of $850 million in Senior Secured Notes due 2028. Proceeds will finance the upcoming acquisition of E&I Engineering Ireland Limited and Powerbar Gulf LLC, alongside covering related fees. The Notes will not be registered under the Securities Act and will be offered only to qualified institutional buyers. They will be secured by liens on certain assets of the Issuer and its subsidiaries. Vertiv continues to expand its critical digital infrastructure solutions globally, with a workforce of approximately 20,000 across over 130 countries.