Benzinga | Aug 4, 2021 06:50AM EDT

Ingersoll Rand Prices ~29.79M Share Offering, No Price Disclosed

Ingersoll Rand Inc. (NYSE:IR) ("Ingersoll Rand") today announced the pricing of the previously announced underwritten secondary offering by KKR Renaissance Aggregator L.P. (the "Selling Stockholder") of 29,788,635 shares of common stock of Ingersoll Rand (the "Shares") pursuant to a registration statement filed by Ingersoll Rand with the U.S. Securities and Exchange Commission (the "SEC"). No shares are being sold by Ingersoll Rand. The Selling Stockholder will receive all of the proceeds from this offering. The offering is expected to close on August 6, 2021, subject to customary closing conditions. As part of and subject to the completion of the offering, Ingersoll Rand intends to concurrently repurchase from the underwriter 14,894,317 shares out of the aggregate 29,788,635 shares of its common stock that are the subject of the offering. The price per share to be paid by Ingersoll Rand will equal the price at which the underwriter will purchase the Shares from the Selling Stockholder in the offering.

J.P. Morgan Securities LLC is acting as the underwriter for the offering.

A registration statement relating to the Shares has been filed with the SEC and has become effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any 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.

The offering of the Shares will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone 1-866-803-9204, email: prospectus-eq_fi@jpmchase.com.