Coty Inc. Announces Pricing of Secondary Offering of Class A Common Stock by KKR
September 08 2021 - 12:01AM
Business Wire
Coty Inc. (NYSE: COTY) (“Coty”) today announced the pricing of
its previously-announced registered public secondary offering of
50,000,088 shares of Coty’s outstanding Class A common stock by KKR
Rainbow Aggregator L.P. (“KKR”), at a price to the public of $8.53
per share. Shares of Class A common stock sold in the offering will
be initially issued to KKR upon conversion of 285,576 shares of
Coty’s Series B Convertible Preferred Stock held by KKR. Upon
completion of the offering, KKR will retain 568,367 shares of
Coty’s Series B Convertible Preferred Stock representing
approximately 10.9% of Coty’s outstanding Class A common stock on
an as-converted basis. The offering is expected to close on
September 10, 2021, subject to customary closing conditions.
Morgan Stanley is acting as the underwriter for the proposed
offering.
The offering is being made only by means of an effective
registration statement and a prospectus. Copies of the prospectus
supplement (when available) and the accompanying prospectus
relating to the offering may be obtained from: Morgan Stanley &
Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014,
Attention: Prospectus Department. Copies of the prospectus
supplement (when available) and the related prospectus may also be
obtained free of charge from the website of the U.S. Securities and
Exchange Commission (the “SEC”) at http://www.sec.gov.
Coty has previously filed with the SEC a registration statement
(including a prospectus) on Form S-3 (File No. 333-248444), dated
August 27, 2020, and will file a prospectus supplement pursuant to
the requirements of the SEC, for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement, the prospectus
supplement (when available) and other documents the issuer has
filed with the SEC for more complete information about the issuer
and this offering. Copies of the registration statement and
prospectus supplement (when available) can be accessed through the
SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Coty Inc.
Coty is one of the world’s largest beauty companies with an
iconic portfolio of brands across fragrance, color cosmetics, and
skin and body care. Coty is the global leader in fragrance, and
number three in color cosmetics. Coty’s products are sold in over
130 countries around the world. Coty and its brands are committed
to a range of social causes as well as seeking to minimize its
impact on the environment.
Forward-Looking Statements
The statements contained in this press release include certain
“forward-looking statements” within the meaning of the securities
laws. These forward-looking statements reflect Coty’s current views
with respect to, among other things, KKR’s offering of Coty’s Class
A common stock. These forward-looking statements are generally
identified by words or phrases, such as “anticipate,” “are going
to,” “estimate,” “plan,” “project,” “expect,” “believe,” “intend,”
“foresee,” “forecast,” “will,” “may,” “should,” “outlook,”
“continue,” “target,” “aim,” “potential” and similar words or
phrases. These statements are based on certain assumptions and
estimates that Coty considers reasonable and are not guarantees of
Coty’s future performance, but are subject to a number of risks and
uncertainties, many of which are beyond Coty’s control, which could
cause actual events or results to differ materially from such
statements, including KKR’s ability to consummate the offering and
other factors identified in “Risk Factors” included in Coty’s
Annual Report on Form 10-K for the fiscal year ended June 30, 2021
and subsequent quarterly reports on Form 10-Q and other filings
with the SEC. All forward-looking statements made in this press
release are qualified by these cautionary statements. These
forward-looking statements are made only as of the date of this
press release, and Coty does not undertake any obligation, other
than as may be required by law, to update or revise any
forward-looking or cautionary statements to reflect changes in
assumptions, the occurrence of events, unanticipated or otherwise,
or changes in future operating results over time or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210907005975/en/
Investor Relations Olga Levinzon 212-389-7733
Olga_Levinzon@cotyinc.com
Media Antonia Werther +31 621 394495917-754-8399
Antonia_Werther@cotyinc.com
Coty (NYSE:COTY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Coty (NYSE:COTY)
Historical Stock Chart
From Sep 2023 to Sep 2024