Ice Mountain LLC sells 7.75M Zurn Elkay shares at $35; company repurchases $55M in shares

Zurn Elkay Water Solutions Corp

Selling stockholder Ice Mountain LLC priced 7.75M shares of ZWS at $35.00 per share; closing on Feb 13, 2025.
Zurn Elkay repurchased 1,636,905 shares from underwriters for approx $55M; company received no offering proceeds.
Underwriters have 30-day option for up to 1,162,500 additional shares from Ice Mountain; option exercised Feb 12.
Ice Mountain (Elkay founding family) entered lock-up on remaining shares through Oct 31, 2026; plans to remain significant investor.
Evercore ISI lead book-runner; Baird, BNP Paribas, Deutsche Bank, Mizuho, Oppenheimer, Stifel co-managers.

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