Gold prices slip lower; consolidating after recent gains
WHITE PLAINS, NY - Loar Holdings Inc. (NYSE:LOAR), a manufacturer and supplier in the aerospace and defense sectors, announced on Tuesday the launch of a secondary public offering of 9 million shares of common stock. These shares are being offered by certain stockholders of the company, and not by Loar itself, which means the proceeds will go directly to the selling shareholders.
The offering also includes an option for underwriters to purchase up to an additional 1.35 million shares within a 30-day period. Investment banks Jefferies and Morgan Stanley (NYSE:MS) have been named as the lead book-running managers for the offering, with Blackstone (NYSE:BX) serving as co-manager.
The shares will be offered under an automatic shelf registration statement that was filed with the Securities and Exchange Commission (SEC) on May 1, 2025, and became effective immediately. The offering will be made through a prospectus supplement and the accompanying base prospectus.
Loar has clarified that the completion of the offering depends on market conditions, and there can be no assurance as to the timing or the actual size and terms of the offering. The company has not disclosed the public offering price or any underwriting discounts and commissions.
This announcement includes forward-looking statements about the offering, which involve risks and uncertainties. These statements are based on current expectations and projections about future events and not historical facts. The actual outcome could differ materially due to market conditions and other factors detailed in the company’s SEC filings.
The information for this article is based on a press release statement from Loar Holdings Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.