Loar Holdings Inc. Announces Initial Public Offering Pricing

Loar Holdings Inc., based in White Plains, NY, declared the pricing of its initial public offering (IPO) at $28.00 per share, offering 11,000,000 shares. The company has permitted the underwriters an option to buy an additional 1,650,000 shares. Trading on the New York Stock Exchange is set to commence on April 25, 2024, under the ticker symbol "LOAR".

The IPO is slated for closing by April 29, 2024, depending on standard closing conditions. Net proceeds from the offering are planned for the repayment of existing debts under Loar's credit agreement and for general corporate functions, including enhancing working capital.

Jefferies and Morgan Stanley have taken roles as lead book runners, with Moelis as a joint book runner. Citigroup and RBC Capital Markets are also involved as book runners for this IPO. Interested parties can access the prospectus via Jefferies or Morgan Stanley.