NORTHBROOK, Ill.–(BUSINESS WIRE)–UL Solutions Inc. (UL Solutions) today announced the pricing of its upsized initial public offering of 33,800,000 shares of Class A common stock at a public offering price of $28.00 per share. The offering consists entirely of secondary shares that will be sold by UL Standards & Engagement, a non-profit organization that is currently the sole shareholder of UL Solutions. The underwriters will have a 30-day option to purchase up to an additional 5,070,000 shares of Class A common stock from UL Standards & Engagement. UL Solutions will not tender any shares of its Class A common stock in the proposed offering and will not receive any proceeds from the proposed sale of the shares.
The shares are expected to begin trading on the New York Stock Exchange on April 12, 2024 under the symbol ULS. The offering is expected to close on April 16, 2024, subject to customary closing conditions.
Goldman Sachs & Co (NYSE:). LLC and JP Morgan (in alphabetical order) are acting as lead management bookrunners, while BofA Securities is acting as managing bookrunner. Citigroup, Jefferies and UBS Investment Bank are acting as additional bookrunners for the proposed offering. Baird, Raymond James, Stifel, Wells Fargo Securities, William Blair, AmeriVet Securities, Bancroft Capital, Cabrera Capital Markets LLC, Loop Capital Markets and R. Seelaus & Co., LLC are acting as co-managers of the proposed offering.
The offering will be made exclusively by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, via facsimile : 212-902-9316, or by email: prospectus-ny@ny.email.gs.com and JP Morgan Securities LLC, c/o Broadridge Financial Solutions (NYSE:), 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com.
A registration statement on Form S-1 relating to the offering of these securities was declared effective by the U.S. Securities and Exchange Commission on April 11, 2024. These securities may not be sold, nor may offers to buy be accepted, prior to at the moment the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would first be unlawful. of registration or qualification under the securities laws of such state or jurisdiction.
Learn about UL solutions
A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions provides testing, inspection and certification services, along with software products and consulting offerings, that support our customers’ product innovation and business growth. The UL Mark serves as a recognized symbol of confidence in our customers’ products and reflects an ongoing commitment to advancing our mission of safety. We help our clients innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future.
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Kathy Fieweger
Senior Vice President – Communications
Kathy.Fieweger@ul.com
312-852-5156
Source: UL Solutions Inc.