Gates Announces Pricing of Secondary Offering of 17,500,000 Ordinary Shares

Source: www.gulfoilandgas.com 5/16/2024, Location: North America

Gates Industrial Corporation plc announced the pricing of the previously announced secondary offering of 17,500,000 ordinary shares (the "Offering") by certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders"). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to 2,625,000 additional ordinary shares. The underwriters may offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The Offering is expected to close on May 21, 2024, subject to customary closing conditions.

Gates is not offering any ordinary shares in the Offering and will not receive any proceeds from the sale of ordinary shares in the Offering. Citigroup, Goldman Sachs & Co. LLC, and Jefferies are serving as the joint lead book-running managers of, and as representatives of the underwriters for, the Offering. Barclays, UBS Investment Bank, BMO Capital Markets, BTIG, Evercore ISI, Mizuho, PJT Partners, RBC Capital Markets and Santander are also serving as joint book-running managers for the Offering.

The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the Offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the Offering will arrange to send you the prospectus if you request it by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282 (Tel: 866-471-2526) or by e-mail at prospectus-ny@ny.email.gs.com; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022 (Tel: 877-821-7388) or by email at prospectus_department@jefferies.com.


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