Gates Industrial Mega Sale: Blackstone’s Move Impacts

Gates Industrial Corporation Announces Pricing of Secondary Offering

Gates Industrial Corporation plc, a global manufacturer of power transmission and fluid power solutions, has announced the pricing of a secondary offering of 17,500,000 ordinary shares by certain selling stockholders affiliated with Blackstone Inc. The shares will be offered by the underwriters on the New York Stock Exchange, over-the-counter market, or through negotiated transactions at market prices or at prices related to the market. The offering, expected to close on February 16, 2024, includes a 30-day option for underwriters to purchase up to an additional 2,625,000 shares. It is important to note that Gates will not be offering any shares nor receiving any proceeds from this offering.