AUSTIN, Texas, Nov. 16, 2020 /PRNewswire/ -- Resideo
Technologies, Inc. (NYSE:REZI) ("Resideo") today announced that it
has commenced an underwritten public offering of 17,000,000 shares
of its common stock.
Resideo intends to use the net proceeds of this offering to
repay borrowings under its revolving credit facility and for
general corporate purposes, including funding growth investments
and potential acquisitions.
Morgan Stanley and Evercore ISI are acting as lead joint
book-running managers on the transaction. BofA Securities and J.P. Morgan are acting
as additional bookrunners on the transaction. The underwriters will
have the option to purchase up to an aggregate of 2,550,000
additional shares of common stock from Resideo.
The shares are being offered pursuant to an effective shelf
registration statement that has been filed with the Securities and
Exchange Commission (the "SEC"). This press release does not
constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any sale of securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offer, or
solicitation to buy, if at all, will be made solely by means of a
prospectus and related prospectus supplement filed with the SEC.
You may obtain these documents without charge from the SEC at
www.sec.gov. Alternatively, you may request copies of these
materials from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, NY 10014,
Attention: Prospectus Department, or from Evercore Group L.L.C,
Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor,
New York, New York 10055, by email
at ecm.prospectus@evercore.com, or by telephone at (888)
474-0200.
About Resideo
Resideo is a global manufacturer and distributor of
technology-driven products and solutions that provide comfort,
security, energy efficiency and control to customers worldwide. Our
ADI Global Distribution business is also a wholesale distributor of
low-voltage security products with a global footprint serving
commercial and residential end markets. Our primary focus is on the
professional channel.
Forward-Looking Statements
This release contains "forward-looking statements," including
statements relating to the proposed offering and the anticipated
use of the net proceeds from the offering. All statements,
other than statements of fact, that address activities, events or
developments that we or our management intend, expect, project,
believe or anticipate will or may occur in the future are
forward-looking statements. Although we believe forward-looking
statements are based upon reasonable assumptions, such statements
involve known and unknown risks, uncertainties, and other factors,
which may cause the actual results or performance of Resideo to be
materially different from any future results or performance
expressed or implied by such forward-looking statements. Such risks
and uncertainties include, but are not limited to, risks and
uncertainties related to the completion of the offering on the
anticipated terms or at all, market conditions, the satisfaction of
customary closing conditions related to the offering, general
economic, industry or political conditions, including the impact of
the COVID-19 pandemic, and the other risks described under the
headings "Risk Factors" and "Cautionary Statement Concerning
Forward-Looking Statements" in our preliminary prospectus
supplement filed November 16, 2020,
our Annual Report on Form 10-K for the year ended December 31, 2019, our Quarterly Report on Form
10-Q for the quarter ended September 26,
2020 and other periodic filings we make from time to time
with the SEC. You are cautioned not to place undue reliance on
these forward-looking statements. Forward-looking statements are
not guarantees of future performance, and actual results,
developments and business decisions may differ from those envisaged
by our forward-looking statements. Except as required by law, we
undertake no obligation to update such statements to reflect events
or circumstances arising after the date of this press release, and
we caution investors not to place undue reliance on any such
forward-looking statements.
Contacts:
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Investors:
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Media:
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Jason
Willey
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Oliver
Clark
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investorrelations@resideo.com
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oliver.clark@resideo.com
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SOURCE Resideo Technologies, Inc.