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Ice Mountain LLC, a former 10% owner, has sold 8,912,500 shares of Zurn Elkay Water Solutions Corp (NYSE:ZWS) common stock, generating approximately $299.46 million. The shares were sold at a price of $33.60 each on February 13, 2025, slightly below the current market price of $35.79. This transaction was part of a secondary offering managed by Evercore Group L.L.C., acting as the representative of the underwriters. The sale represents about 15% of Zurn Elkay’s $6.1 billion market capitalization.
Prior to this sale, Ice Mountain LLC acquired 461,155 shares of Zurn Elkay common stock, although this acquisition did not involve any monetary exchange. The shares were released from an escrow deposit related to a working capital adjustment following the company’s merger with Elkay Manufacturing Company in July 2022.
Following these transactions, Ice Mountain LLC holds 15,002,819 shares of Zurn Elkay, reflecting its continued significant stake in the company.
In other recent news, Zurn Elkay Water Solutions Corporation has shared major developments. The company initiated a public offering of shares held by a former stockholder, Ice Mountain LLC, and plans to repurchase approximately $50 million worth of its common stock. This offering includes 7,750,000 shares of Zurn Elkay’s common stock, with the underwriters granted a 30-day option to buy an additional 1,162,500 shares from Ice Mountain LLC. Evercore ISI and Baird are managing this offering, with support from BNP Paribas (OTC:BNPQY), Deutsche Bank (ETR:DBKGn) Securities, Mizuho (NYSE:MFG), Oppenheimer & Co., and Stifel.
In other recent developments, the company has also reported its financial results for the quarter ending December 31, 2024. These earnings and revenue results are critical for investors, providing a snapshot of the company’s operations and conditions. The report is compliant with the regulations of the Securities Exchange Act of 1934.
These are the latest developments for Zurn Elkay, a company recognized for its commitment to health, hydration, safety, and environmental sustainability. All information is based on factual data and does not imply any future prospects or market positions.
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