Vertiv's selling shareholder VPE Holdings sells 20M shares in secondary offering; net proceeds ~$698M

Vertiv Holdings Co

VPE Holdings sold 20,000,000 shares of Class A common stock to BofA Securities as underwriter.
Net proceeds to selling shareholder approximately $698.2 million; Company received none.
Lock-up restrictions: Company/directors/officers 30 days, selling shareholder 60 days post-agreement.
Underwriting agreement includes customary reps, warranties, indemnification and closing conditions.

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

Vertiv Holdings Co entered into Underwriting Agreement with VPE Holdings, LLC and BofA Securities, Inc. valued at 20,000,000 shares of Class A common stock (effective 2023-08-07).

Action: entry
Agreement: underwriting
Counterparty: VPE Holdings, LLC and BofA Securities, Inc.
Value: 20,000,000 shares of Class A common stock
Effective: 2023-08-07

Exact text from the filing

On August 7, 2023, Vertiv Holdings Co, a Delaware corporation (the “Company”), VPE Holdings, LLC (the “Selling Shareholder”) and BofA Securities, Inc. (the “Underwriter”) entered into an underwriting agreement (the “Underwriting Agreement”), pursuant to which the Selling Shareholder agreed to sell to the Underwriter, and the Underwriter agreed to purchase from the Selling Shareholder, subject to and upon the terms and conditions set forth therein, 20,000,000 shares of Class A common stock, par value $0.0001 per share (the “Class A common stock”), of the Company.

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

Vertiv Holdings Co filing history →

Source: SEC EDGAR

accession 0001193125-23-207334

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