Axalta Coating Systems Ltd. (NYSE:AXTA) announced the sale of 25 million common shares by affiliates of The Carlyle Group. In addition, the underwriter will have a 30-day option to purchase up to 3,750,000 additional common shares from Carlyle. Axalta will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is expected to occur on or about May 31, subject to customary closing conditions.
Following the offering, Carlyle will continue to own 44,811,996 shares, or approximately 18.8 percent, of Axalta’s outstanding common shares (or 41,061,996 shares, or approximately 17.2 percent, if the underwriter
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