Ecovyst announces secondary offering of 14M shares by INEOS at $10.88; company to repurchase 4M shares

Ecovyst Inc.

14M shares offered by INEOS Limited at $10.8808; underwriter has 30-day option for additional 2.1M shares.
Ecovyst to repurchase 4M shares from underwriter for $43.5M, funded from cash on hand and operations.
Closing expected May 26, 2023, subject to customary closing conditions.
Estimated offering expenses total $750,000 (SEC fee $19.8k, legal $555k, accounting $125k).

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 J.P. Morgan Securities LLC valued at 14,000,000 shares at $10.8808 per share, plus Company repurchase of 4,000,000 shares for $43,523,200 (effective 2023-05-23).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC
Value: 14,000,000 shares at $10.8808 per share, plus Company repurchase of 4,000,000 shares for $43,523,200
Effective: 2023-05-23

Exact text from the filing

On May 23, 2023, Ecovyst Inc. (the “ Company ”) entered into an Underwriting Agreement (the “ Underwriting Agreement ”) with J.P. Morgan Securities LLC (the “ Underwriter ”) and INEOS Limited (the “ Selling Stockholder ”), relating to the underwritten offering of 14,000,000 shares (the “ Shares ”), including the Underwriter’s 30-day option to purchase up to an additional 2,100,000 shares of the Company’s common stock, par value $0.01 per share, from the Selling Stockholder, (the “ Offering ”).

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85 material agreements filed in the last 30 days. Browse all material agreements →

Ecovyst Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-154861

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