(Finance) – Leonardo announced the price of the public offering in the United States by Leonardo US Holding, a company controlled by Leonardo, of a minority stake equal to 18,000,000 ordinary shares of Leonardo DRSgiving an offer price equal to $17.75 per sharerepresenting approximately 6.9% of DRS’s issued ordinary shares.
The Selling Shareholder has granted the underwriting banks a 30-day option to purchase an additional 2,700,000 ordinary shares of DRS from the Selling Shareholder. All shares in the offering are sold by the Selling Shareholder. DRS will not receive any proceeds from the offering.
The completion of the offer is expected on November 21st 2023, subject to customary closing conditions.
Following the completion of the offering, the Selling Shareholder is expected to own approximately 73.3% of the issued and outstanding common shares of DRS (approximately 72.3% if the option to purchase additional shares by the subscribing banks will be fully exercised).