Blackstone affiliates price secondary offering of 17.5M shares; Gates to repurchase $50M in shares

Gates Industrial Corp plc

Underwritten secondary offering of 17,500,000 ordinary shares by Blackstone selling stockholders priced at market close on Feb 12, 2024.
Underwriters' option to purchase up to 2,625,000 additional shares exercised in full on Feb 13, 2024.
Gates will not receive proceeds but will repurchase $50M of its shares from underwriters at the offering price, totaling 4,151,100 shares.
Certain directors agreed to purchase 1,061,475 ordinary shares in the offering.
Offering expected to close on February 16, 2024, subject to customary closing conditions.

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