Primo Brands Announces Pricing of Secondary Offering

By Bobby Samwell • Thursday, March 13 06:02 • Permanent Link

Primo Brands Corporation (NYSE: PRMB) has announced the pricing of a secondary offering of 45,000,000 shares of its Class A common stock by an affiliate of One Rock Capital Partners. The offering is priced at $29.50 per share, and Primo Brands has also agreed to purchase 4,000,000 shares of its Class A common stock from the underwriters at a per-share purchase price equal to the price payable by the underwriters to the selling stockholder in the offering.

The offering is expected to close on March 12, 2025, subject to customary closing conditions. Additionally, the selling stockholder has granted the underwriters a 30-day option to purchase up to 6,750,000 additional shares of Class A common stock.

Morgan Stanley and BofA Securities are acting as joint lead book-running managers for the offering, while J.P. Morgan, RBC Capital Markets, and Barclays are acting as joint book-running managers. Furthermore, BMO Capital Markets, Deutsche Bank Securities, Jefferies, Goldman Sachs & Co. LLC, Mizuho, TD Cowen, Truist Securities, and William Blair are acting as joint bookrunners for the offering, with Drexel Hamilton, LLC, and Loop Capital Markets acting as co-managers.

This offering comes as Primo Brands Corporation continues to expand its presence as a leading North American branded beverage company, focusing on healthy hydration and responsibly and domestically sourced diversified offerings across products, formats, channels, price points, and consumer occasions, distributed in every state and Canada.

The company employs more than 13,000 associates with dual headquarters in Tampa, Florida, and Stamford, Connecticut.

The communication emphasizes that the offering will be made only by means of a prospectus supplement and an accompanying prospectus, cautioning that it is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security.

As Primo Brands Corporation moves forward with this secondary offering, investors and industry analysts will be closely watching to see how this capital infusion will impact the company's growth and future business strategies. Today the company's shares have moved 3.3% to a price of $31.32. For the full picture, make sure to review Primo Brands's 8-K report.

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