RCS - Loar Holdings Inc. - Loar Announces Pricing of Initial Public Offering

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25/04/2024 08:15

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RNS Number : 9591L  Loar Holdings Inc.  25 April 2024

Loar Announces Pricing of Initial Public Offering

WHITE PLAINS, NY / ACCESSWIRE / April 24, 2024 / Loar Holdings Inc. ("Loar"),
announced today the pricing of its initial public offering of 11,000,000
shares of its common stock at $28.00 per share. In addition, Loar has granted
the underwriters 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 shares are expected to begin trading on the New
York Stock Exchange on April 25, 2024, under the ticker symbol "LOAR". The
offering is expected to close on April 29, 2024, subject to customary closing
conditions.

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 offering
and Moelis is acting as joint book runner. Citigroup and RBC Capital Markets
are additionally acting as book runners.

A registration statement relating to these securities has been filed with, and
declared effective by, the Securities and Exchange Commission ("SEC"). This
offering is being made only by means of a prospectus. When available, copies
of the prospectus relating to the 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.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, 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.

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 initial public offering, including
the completion, timing and size of the offering, 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 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 Inc.

 

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