Primo Brands ( (PRMB) ) just unveiled an update.
On March 10, 2025, Primo Brands Corporation announced the pricing of a secondary offering of 51,750,000 shares of its Class A common stock, including an option for underwriters to purchase additional shares, at $29.50 per share. The offering, which closed on March 12, 2025, was conducted by a stockholder affiliated with One Rock Capital Partners, with Morgan Stanley and BofA Securities leading the underwriting. The company agreed to repurchase 4,000,000 shares from the underwriters, funded by cash on hand, while the selling stockholder received all net proceeds. This move is part of the company’s strategic financial operations, potentially impacting its market positioning and shareholder value.
More about Primo Brands
Primo Brands is a leading North American branded beverage company focusing on healthy hydration. It offers a diverse range of responsibly and domestically sourced products across various formats, channels, price points, and consumer occasions, distributed throughout the United States and Canada. The company employs over 13,000 associates and has dual headquarters in Tampa, Florida, and Stamford, Connecticut.
YTD Price Performance: -1.14%
Average Trading Volume: 2,838,451
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $11.53B
For detailed information about PRMB stock, go to TipRanks’ Stock Analysis page.