other material
confidence high
sentiment neutral
materiality 0.55
Core & Main completes $88M share repurchase from CD&R funds; 14M share secondary priced at $28.215
Core & Main, Inc.
- Repurchased 3,125,728 Class A shares from CD&R funds for ~$88.2M ($28.215/share).
- Selling stockholders sold 14,000,000 Class A shares at $28.215/share in underwritten offering; company no proceeds.
- Holdings redeemed 5,000,000 partnership interests; Paired Interest Stockholder transferred Class B shares to company.
- CD&R funds reduce stake; company uses cash for buyback; no change to business operations.