Amentum Prices Secondary Offering Of About 19.5 Mln Shares At $16.50/Share, Stock Up In Pre-Market
Amentum Holdings, Inc. (AMTM) has priced a secondary public offering of approximately 19.5 million shares at $16.50 each. The company will not sell any shares or receive proceeds from the offering. A subsidiary of Jacobs Solutions will exchange debt-for-equity shares with a BofA Securities affiliate for the offering. Following the offering, Jacobs will no longer hold Amentum shares, except for about 9.7 million escrowed shares. Amentum's stock rose 4.99% in pre-market trading, reaching $17.89.
Amentum Holdings, Inc. (AMTM), Wednesday announced the pricing of secondary public offering of approximately 19.5 million shares at $16.50 per share.
Notably, Amentum is not selling any shares of common stock and will not receive any proceeds from the sale of the shares in the offering or from the debt-for-equity exchange.
In connection with the offering, a Jacobs Solutions subsidiary will exchange debt-for-equity shares with a BofA Securities affiliate, who will then sell them to the underwriters in the offering.
Upon the completion of the offering, which is expected to close on March 13, Jacobs will cease to hold Amentum shares, except for potential future receipt of around 9.7 million escrowed shares.
In the pre-market hours, Amentum's stock is trading at $17.89, up 4.99 percent on the New York Stock Exchange.
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