(1) Price per $1,000 of principal amount of Notes tendered SEE has retained J.P. Morgan Securities LLC to act as exclusive Dealer Manager. Global Bondholder Services Corporation has been retained to serve as both the depositary and the information agent (the "Depositary and Information Agent") for the Tender Offer. For additional information regarding the terms of the Tender Offer, please contact: J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3554 (collect). Requests for copies of th ...

Website Information The Issuers intend to use the net proceeds from the offering of the Notes, (i) to repurchase any or all of SEE's outstanding 5.500% senior notes due 2025 (the "2025 Notes") pursuant to the tender offer commenced by SEE today and to pay related premiums, fees and expenses in connection therewith, and (ii) to the extent of any remaining proceeds after giving effect to the foregoing transaction, for general corporate purposes. The tender offer is conditioned upon, among other things, the co ...

CHARLOTTE, N.C., June 17, 2024 /PRNewswire/ -- Sealed Air Corporation ("SEE") (NYSE: SEE) today announced, together with Sealed Air Corporation (US) (together with SEE, the "Issuers"), that the Issuers commenced an offering of senior notes due 2032 (the "Notes"). The Notes will be jointly and severally, and irrevocably and unconditionally, guaranteed on a senior unsecured basis by each of SEE's existing and future wholly owned domestic subsidiaries that guarantee its senior secured credit facilities, subjec ...

Forward-Looking Statements The following table summarizes the material pricing terms of the Tender Offer, which is being made upon, and is subject to, the terms and conditions set forth in the Offer Documents. (Regulation S) The consideration (the "Total Consideration") offered for each $1,000 principal amount of the Notes validly tendered and not validly withdrawn and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the f ...

Henry Keizer, SEE Board Chairman, said, "We are pleased to welcome Patrick as our new CEO. He has a strong track record of delivering growth and driving commercial and operational transformations within the packaging industry, and we are confident he will accelerate SEE's transformation and drive long-term value creation for our shareholders." Mr. Keizer continued, "We would like to thank both Emile and Dustin for their leadership over the recent months and the progress made on SEE's transformation. They bo ...

The Thesis Sealed Air Corporation (NYSE:SEE) continued its topline contraction as it entered 2024. I expect this to continue further in 2024 as the end market remains under pressure in most of the end markets in both the segments, primarily in the EMEA region. This, along with impact from weak pricing, should negatively impact the company's margin in the near term. The longer-term prospects, however, look good due to the company's focus on developing new products to its portfolio associated with their custo ...

CHARLOTTE, N.C., May 23, 2024 /PRNewswire/ -- SEE (NYSE: SEE) announced today that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share. The dividend is payable on June 28, 2024 to stockholders of record at the close of business on June 14, 2024. About SEE Sealed Air Corporation (NYSE: SEE), is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment and services. SEE designs, manufactures and delivers p ...

Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud and unlawful business practices involving Sealed Air Corporation and its executives [1][2] Group 1: Company Performance and Market Reaction - Bleecker Street Research presented Sealed Air as a short idea, claiming the company's business is in decline due to customers moving away from thin-film plastics [2] - Following the negative report, Sealed Air's stock price dropped by $1.99, or 5.56%, closing at $33.79 per share on April 3, 2024 [2] Group 2: Legal and Corporate Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [3]

Financial Data and Key Metrics Changes - The company reported net sales of $1.33 billion for Q1 2024, down 1% on a constant currency basis compared to the previous year [68] - Adjusted EBITDA for the quarter was $278 million, an increase of 4% year-over-year, with margins at 20.9%, up 110 basis points [70] - Adjusted earnings per share were $0.78, reflecting a 5% increase compared to the same period last year [40] Business Line Data and Key Metrics Changes - The Food segment achieved low single-digit volume growth across all regions, primarily driven by the shrink bag business [25] - Protective segment net sales were $461 million, down 7% organically, primarily due to lower pricing and volume declines in EMEA [43] - Food adjusted EBITDA was $190 million, down 3% with margins at 21.8%, while Protective adjusted EBITDA was approximately $90 million, up 11% with margins at 19.4% [71][72] Market Data and Key Metrics Changes - In the Americas, volume growth was less than 1%, with growth in box rightsizing solutions offset by industrial weakness [27] - EMEA experienced a double-digit volume decline, driven by sustainability pressures and destocking [27] - Asia Pacific volumes were flat, with tailwinds from the Australian cattle cycle offset by continued industrial market weakness [73] Company Strategy and Development Direction - The company is focused on enhancing its rollstock portfolio and expanding its fiber-based offerings, particularly in response to e-commerce trends [4][5] - There is a commitment to sustainability, with ongoing development of compostable and recyclable packaging solutions [34][35] - The company aims to achieve approximately $90 million in year-over-year cost savings in 2024 through cost control initiatives [39] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, noting improvements in customer profitability and the potential for cyclicality to return [15] - The company anticipates a slight sequential decline in sales for Q2, reflecting a low visibility environment and subsiding holiday demand [75] - Management reaffirmed full-year 2024 guidance, emphasizing the need for continued focus on transformation and cost management [46][47] Other Important Information - The company generated positive free cash flow of $78 million in Q1 2024, compared to a negative $13 million in the same period last year [33] - Total liquidity position was reported at $1.4 billion, including $353 million in cash [74] Q&A Session Summary Question: What drove the upside specific to Food in the first quarter? - Management noted strength in Latin America and Australia, driven by holiday demand carryover and new customer wins [50][51] Question: What factors allowed the company to fall behind in fiber-based solutions? - Management acknowledged the need to enhance focus on fiber-based offerings and emphasized ongoing efforts to complete the portfolio [81] Question: Can you quantify the holiday carryover impact on Q1 results? - Management indicated that the holiday demand contributed positively to Q1 results, but expected a decline in Q2 due to normalization [56] Question: What are the risks associated with PVdC and regulatory changes? - Management confirmed that PVdC is critical for food preservation and is actively engaging with regulators to advocate for its continued use [87][88] Question: What keeps management awake at night regarding future opportunities and risks? - Management highlighted the importance of addressing cost structure and sustainability challenges while maximizing opportunities in the market [97]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Or For the transition period from to Commission File Number: 1-12139 SEALED AIR CORPORATION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) | Delaware | 65-0654331 | | --- | --- | | (St ...