One Rock affiliate sells 45M shares of Primo Brands in secondary offering; company repurchases 4M shares

Primo Brands Corp

One Rock Capital Partners affiliate sells 45M shares (plus 6.75M option) at $29.50/share in secondary offering.
Company repurchases 4M shares from underwriters at same price; funded with cash on hand.
Offering closed March 12; selling stockholder receives all net proceeds; company receives none.
Joint lead bookrunners: Morgan Stanley and BofA Securities; offering under effective shelf registration.

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