Ranpak Announces the Price of a Public Offering of 5,000,000 Class A Common Shares | 2021-05-26 | Press Releases
Ranpak Holdings Corp. (“Ranpak & CloseCurlyDoubleQuote;) (NYSE: PACK), a leading provider of environmentally sustainable, systems-based product protection solutions for e-commerce and industrial supply chains, today announced the price of a registered public offering of 5,000,000 Class A common shares at a public offering price of $ 21.00 per share, for gross proceeds of approximately $ 94.5 million to the Company and approximately $ 10.5 million to certain Selling Securityholders of Ranpak (the “Selling Securityholders and CloseCurlyDoubleQuote;). The offering consists of 4,500,000 shares offered by Ranpak and 500,000 shares offered by the selling security holders. In addition, Ranpak has granted the underwriter a 30-day option to purchase an additional 750,000 shares, to cover over-allotments, if any. The offer is expected to close on June 1, 2021, subject to customary closing conditions.
Ranpak intends to use the net proceeds of the proposed offering for debt repayment and general corporate purposes. Ranpak will not receive any proceeds from the sale of the Class A common shares offered by the selling securityholders.
Goldman Sachs & Co. LLC and Baird are acting as co-bookkeepers and Craig-Hallum Capital Group, Evercore Group LLC and CJS Securities are acting as co-managers for the proposed offering.
A registration statement on Form S-3 (File Nos. 333-249439 and 333-232105) relating to the ordinary shares of Ranpak for sale under the proposed offer has been declared effective by the Securities and Exchange Commission (the “SEC & CloseCurlyDoubleQuote;) on May 18, 2021. A preliminary prospectus supplement and related prospectus relating to and describing the terms of the offer have been filed with the SEC and can be obtained by visiting EDGAR on the SEC website & CloseCurlyQuote; www.sec.gov . Copies of the Final Prospectus Supplement and accompanying prospectus relating to the Offer may be obtained, when available, from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198 , Attention: Prospectus, Phone: 866-471-2526, Email: [email protected] or Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by phone at (800) 792-2473, or by email at [email protected]
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there may be no sale of such securities in any state or jurisdiction where such an offer, solicitation or sale would be illegal before registration or qualification under the securities laws of those states or jurisdictions.
Founded in 1972, Ranpak’s goal was to create the first environmentally friendly system to effectively protect products during shipping. The development and improvement of materials, systems and overall solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak is headquartered in Concord Township, Ohio and has approximately 600 employees.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the forward-looking statements contained in this press release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties which may cause actual results to differ materially from those discussed in these forward-looking statements. Readers are urged to carefully consider and take into account the various disclosures the company makes in reports filed with the Securities and Exchange Commission, including risk factors that attempt to educate interested parties about the risks that may affect them. affect the activities and financial position of the company. , operating results and cash flow. If one or more of these risks or uncertainties materialize, or if the underlying assumptions turn out to be incorrect, the actual results of & CloseCurlyQuote may differ materially from those expected or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this press release.