RCS - Loar Holdings, LLC - Loar Announces Launch of Initial Public Offering

Morgan StanleyAnnouncement

17/04/2024 12:45

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RNS Number : 9817K  Loar Holdings, LLC  17 April 2024

Loar Announces Launch of Initial Public Offering

WHITE PLAINS, NY / ACCESSWIRE / April 17, 2024 / Loar Holdings Inc. ("Loar")
announced today that it has launched the roadshow for the initial public
offering of 11,000,000 shares of its common stock. In addition, the
underwriters are expected to have a 30-day option to purchase up to an
additional 1,650,000 shares of common stock at the initial public offering
price, less underwriting discounts and commissions. The initial public
offering price is expected to be between $24 and $26 per share. Loar has
applied to list its common stock on the New York Stock Exchange under the
ticker symbol "LOAR."

Loar intends to use the net proceeds from this offering for repayment of
borrowings outstanding under its credit agreement and for general corporate
purposes, including working capital.

Jefferies and Morgan Stanley are acting as lead book runners for the proposed
offering and Moelis is acting as joint book runner. Citigroup and RBC are
additionally acting as book runners.

The proposed offering will be made only by means of a prospectus. Copies of
the preliminary prospectus relating to the proposed offering may be obtained
by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877)
821-7388 or by email at prospectus_department@jefferies.com; Morgan Stanley
& Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014; and Moelis & Company LLC, Attention: Melissa
Mariaschin, Managing Director and Head of Distribution, Capital Markets, 399
Park Avenue, 5th Floor, New York, NY 10022.

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission ("SEC") but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction. The offering is subject to market conditions, and there can be
no assurance as to whether or when the offering may be completed, or as to the
actual size or terms of the offering.

About Loar

Loar Holdings Inc. is a diversified manufacturer and supplier of niche
aerospace and defense components that are essential for today's aircraft and
aerospace and defense systems. Loar has established relationships across
leading aerospace and defense original equipment manufacturers and Tier Ones
worldwide.

Forward-Looking Statements

This press release contains forward-looking statements, including statements
regarding the initial public offering. These statements are not historical
facts but rather are based on Loar's current expectations and projections
regarding its business, operations and other factors relating thereto. Words
such as "may," "will," "could," "would," "should," "anticipate," "predict,"
"potential," "continue," "expects," "intends," "plans," "projects,"
"believes," "estimates" and similar expressions are used to identify these
forward-looking statements. Such forward-looking statements include, but are
not limited to, statements relating to the proposed initial public offering,
including the size of such offering, the price range, the plan to list on the
New York Stock Exchange and the expected use of proceeds from the offering.
These statements are only predictions and as such are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to predict. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including, but
not limited to, uncertainties related to market conditions, the SEC's review
process, and other factors relating to Loar's business described in the
section titled "Risk Factors" in the prospectus included in the registration
statement, in the form last filed with the SEC.

Contact:

Ian McKillop

Loar Group Investor Relations

IR@loargroup.com

SOURCE: Loar Holdings, LLC

 

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