RBC Bearings issues $460M mandatory convertible preferred and 3.45M common shares for Dodge acquisition

RBC Bearings INC

Issued 4.6M shares of 5.00% Series A Mandatory Convertible Preferred Stock at $100 liquidation preference, raising $460M.
Issued 3.45M shares of common stock in a public offering, including 450K shares from over-allotment option.
Credit agreement amended to permit up to $600M in senior unsecured notes and $1.15B in mandatory convertible preferred stock.
Proceeds will fund pending acquisition of ABB's Dodge Mechanical Power Transmission business and related fees.
If Dodge acquisition does not close by Jan 26, 2022, mandatory convertible preferred stock may be redeemed.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.