Gates Prices Secondary Offering Of 25M Ordinary Shares

Gates Prices Secondary Offering Of 25M Ordinary Shares

The offering at $16 per share is being made by certain selling stockholders affiliated with The Blackstone Group.

Gates Industrial Corp. plc has announced the pricing of a previously announced secondary offering of 25,000,000 ordinary shares at a price to the public of $16 per share by certain selling stockholders affiliated with The Blackstone Group Inc. The selling stockholders also granted the underwriters a 30-day option to purchase up to 3,750,000 additional ordinary shares. The offering is expected to close on Aug. 16, 2021, subject to customary closing conditions.

Gates is not offering any ordinary shares in the offering and will not receive any proceeds from the sale of ordinary shares in this offering. 

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