** Shares of aerospace parts supplier Loar Holdings LOAR.N edge up 0.6% to $83.90 premarket after secondary offering priced
** White Plains, New York-based firm late Weds announced 9 mln shares offloaded by certain stockholders at $83.41 for total deal size of ~$750.7 mln
** LOAR shares on Weds fell 10.5% to close at $83.41 after co launched the offering
** Hedge fund Abrams Capital Management, a 40% holder, Blackstone BX.N and GPV Loar, which is managed by board director Paul Levy, comprise the bulk of the selling
** Post offering, they still collectively own ~55.5% stake in co, per the SEC prospectus filing
** Loar has ~93.6 mln shares outstanding for $7.8 bln market cap
** Jefferies and Morgan Stanley acting as jt lead bookrunners for offering
** Through Weds close, LOAR shares up ~13 YTD. Stock hit record intraday high of $99.67 on Mon
** Loar went public in Apr 2024 IPO priced at $28
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@thomsonreuters.commailto:lance.tupper@tr.com 1-646-279-6380))
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