Primo Brands (PRMB) said Monday that one of its shareholders intends to sell 45 million class A shares in an underwritten secondary offering.
The selling shareholder, an affiliate of One Rock Capital Partners, will receive all net proceeds from the offering, Primo Brands said.
The shareholder expects to give underwriters a 30-day option to buy up to 6.75 million additional shares, the company said.
Primo Brands said that, subject to the completion of the offering, it intends to repurchase from the underwriters 4 million shares being sold in the offering.
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