Secondary Offering

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V2X, INC. ANNOUNCES SALE OF 2.0 MILLION SHARES OF COMMON STOCK IN SECONDARY OFFERING BY VERTEX AEROSPACE
Prnewswire· 2025-08-08 10:45
Core Viewpoint - V2X, Inc. announced the sale of 2.0 million shares of its common stock by Vertex Aerospace, with V2X not participating in the sale and not receiving any proceeds from it [1] Group 1: Offering Details - The offering is underwritten by RBC Capital Markets, which will sell the shares through various methods including direct sales and brokerage transactions on the New York Stock Exchange [2] - V2X has agreed to repurchase 200,000 shares from the underwriter at the same price paid by RBC Capital Markets for the shares sold by Vertex Aerospace, using cash on hand for this repurchase [3] Group 2: Ownership and Governance Changes - After the offering, Vertex Aerospace will own approximately 32.3% of V2X's outstanding common stock, totaling 10,167,286 shares [4] - Following the transaction's closing, two directors designated by Vertex Aerospace will resign from V2X's Board of Directors by the 2026 Annual Meeting, and Vertex Aerospace will have limited rights regarding board committee designations and certain corporate actions [4] Group 3: Regulatory Information - A registration statement for the offering was declared effective by the SEC on September 12, 2022, and the offering will be conducted according to the prospectus contained in that registration statement [5]
V2X, INC. ANNOUNCES SALE OF 2.0 MILLION SHARES OF COMMON STOCK IN SECONDARY OFFERING BY VERTEX AEROSPACE
Prnewswire· 2025-08-08 10:45
Core Viewpoint - V2X, Inc. announced the sale of 2.0 million shares of its common stock by Vertex Aerospace, with V2X not participating in the sale and not receiving any proceeds from it [1] Group 1: Offering Details - Vertex Aerospace is the sole underwriter for the offering, which will be conducted through various methods including direct sales and brokerage transactions on the New York Stock Exchange [2] - The offering is expected to close on or about August 11, 2025, subject to customary closing conditions [1] Group 2: Share Repurchase Agreement - V2X has agreed to repurchase 200,000 shares of its common stock from the underwriter at the same price paid to Vertex Aerospace [3] - The repurchase will be funded with cash on hand [3] Group 3: Ownership and Governance Changes - After the offering, Vertex Aerospace will own approximately 32.3% of V2X's outstanding common stock, totaling 10,167,286 shares [4] - Following the transaction, two directors designated by Vertex Aerospace will resign from V2X's Board of Directors by the 2026 Annual Meeting of Shareholders [4] - Vertex Aerospace will have limited rights regarding the designation of directors and will lose consent rights over certain corporate actions [4] Group 4: Regulatory Information - A registration statement related to the shares was declared effective by the SEC on September 12, 2022, and the offering will be made by means of the written prospectus contained therein [5]
Grupo Financiero Galicia S.A. Announces Pricing of Secondary Offering of American Depositary Shares by HSBC Bank plc
Globenewswire· 2025-06-11 01:29
Core Viewpoint - Grupo Financiero Galicia S.A. announced a secondary offering of 11,721,449 American Depositary Shares (ADSs) at a price of $54.25 per ADS, representing 117,214,490 Class B ordinary shares, with proceeds going entirely to the selling shareholder, HSBC Bank plc [1][2]. Company Overview - Grupo Financiero Galicia S.A. is one of Argentina's largest financial services groups, focusing on creating long-term value through various financial services including savings, credit, investment, insurance, and digital solutions [6][7]. - The company has over 110 years of experience and operates through multiple subsidiaries, including Banco de Galicia y Buenos Aires S.A.U., Galicia Más Holdings, and Galicia Seguros, among others [7]. Offering Details - The offering is conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), and a final prospectus supplement will be available [3]. - The offering is expected to close on June 12, 2025, subject to customary closing conditions [2]. Regulatory Information - The ADSs are not authorized for public offering in Argentina and are not being sold under Argentine Capital Markets Law [1]. - The documents related to the offering have not been reviewed or authorized by the Argentine National Securities Exchange Commission (CNV) [1]. Investor Contact - For further inquiries, the investor relations officer can be contacted via the provided email and phone number [8].
Grupo Financiero Galicia S.A. Announces Commencement of Secondary Offering of American Depositary Shares by HSBC Bank plc
Globenewswire· 2025-06-10 21:10
Core Viewpoint - Grupo Financiero Galicia S.A. is launching an underwritten secondary offering of 11,721,449 American Depositary Shares (ADSs) representing 117,214,490 Class B ordinary shares, with all proceeds going to the selling shareholder, HSBC Bank plc [1][2]. Company Overview - Grupo Financiero Galicia S.A. is one of Argentina's largest financial services groups, aiming to create long-term value through a variety of financial services including savings, credit, investment, insurance, and digital solutions [6][8]. - The company has over 110 years of experience and operates through several subsidiaries, including Banco de Galicia y Buenos Aires S.A.U., Galicia Más Holdings, and Galicia Seguros, among others [8]. Offering Details - The offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) [3]. - The company will not receive any proceeds from the offering, as all ADSs are being offered by the selling shareholder [2].
Life Time Announces Commencement of Secondary Offering of 20,000,000 Shares of Common Stock
Prnewswire· 2025-06-05 10:30
Core Viewpoint - Life Time Group Holdings, Inc. announced a public offering of 20,000,000 shares of its common stock by certain affiliates of Leonard Green & Partners, L.P. and TPG Inc., with the proceeds going entirely to the Selling Stockholders, while the Company will not receive any funds from this sale [1]. Group 1: Offering Details - The offering is subject to market conditions, and there is no assurance regarding its completion or the actual size and terms of the offering [2]. - J.P. Morgan and BofA Securities are acting as underwriters for the proposed offering [2]. Group 2: Company Overview - Life Time operates over 180 athletic country clubs across the U.S. and Canada, providing a range of health and wellness services and products, including nutritional supplements [5]. - The Company serves a diverse demographic, from individuals aged 90 days to over 90 years, through various healthy living and aging programs [5]. - Life Time has been recognized as a Great Place to Work®, highlighting its commitment to a positive workplace culture for its more than 43,000 employees [5].
Why Garrett Motion Stock Is Down Today
The Motley Fool· 2025-05-21 15:07
Core Viewpoint - Garrett Motion announced a significant secondary offering of 17 million shares, leading to a 10% drop in its stock value as investors reacted negatively to the increased share supply [1][4]. Company Overview - Garrett Motion is the former auto division of Honeywell International, specializing in turbochargers for internal combustion engine vehicles and components for hybrid and battery electric vehicles [3]. - The company underwent bankruptcy after separating from Honeywell but has since returned to public markets with substantial ownership from private equity firms that aided in its restructuring [3]. Shareholder Dynamics - The secondary offering consists of shares owned by affiliates of Oaktree Capital Management, Centerbridge Partners, and Cyrus Capital Partners, with Garrett not receiving any proceeds from this offering [4]. - Private equity investors typically do not hold long-term stakes, indicating their intention to gradually cash out to return capital to their investors [5]. Financial Performance - Despite the ownership overhang from private equity sales, Garrett has successfully transformed into a free cash flow-generating entity, with the capacity to repurchase shares and currently offering a dividend yield of 2.3% [6]. Investment Perspective - For investors seeking solid cash generation opportunities, Garrett is considered an attractive option despite the short-term volatility associated with the secondary offering [7].