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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.

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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.

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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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