Axalta Coating Systems Ltd. (NYSE:AXTA) last week announced a secondary offering of of 41,621,996 common shares by affiliates of The Carlyle Group . The offering was subsequently priced at $28.25 a share, providing Carlyle with $1.175 Billion. Axalta will not receive any of the proceeds from the offering of shares by Carlyle.
According to a press release announcing the offering, Carlyle will not own any of Axalta’s common shares, other than “de minimis amounts held or owned from time to time in the ordinary course of business.” As a result of the sale, Axalta’s principal stockholders agreement will terminate and
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