Ecovyst repurchases $29.85M of stock from underwriter in secondary offering

Ecovyst Inc.

Underwriting agreement for 11.49M shares sold by selling stockholders at $9.95/share.
Company to repurchase 3M shares from underwriter for $29.85M total.
Share repurchase funded with cash on hand and cash from operations.
Closing expected on or about March 7, 2023, subject to customary conditions.
No new shares issued by Ecovyst; all shares sold by existing stockholders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ecovyst Inc. entered into Underwriting Agreement with Jefferies LLC and the selling stockholders listed on Schedule I thereto valued at $29,850,000 (effective 2023-03-02).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and the selling stockholders listed on Schedule I thereto
Value: $29,850,000
Effective: 2023-03-02

Exact text from the filing

On March 2, 2023, Ecovyst Inc. (the “ Company ”) entered into an Underwriting Agreement (the “ Underwriting Agreement ”) with Jefferies LLC (the “ Underwriter ”) and the selling stockholders listed on Schedule I thereto (the “ Selling Stockholders ”), relating to the underwritten offering of 11,490,444 shares (the “ Shares ”) of the Company’s common stock, par value $0.01 per share (the “ Offering ”).

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Ecovyst Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-061422

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