Zurn Elkay Water announces 7.75M share common stock offering for holders

Zurn Elkay Water (ZWS) Solutions announced the launch of an underwritten public offering by a certain former Elkay stockholder, Ice Mountain, of 7.75M shares of Zurn Elkay’s common stock, of which Zurn Elkay intends to repurchase from the underwriters approximately $50M of such shares of common stock. The underwriters will have a 30-day option to purchase up to an additional 1,162,500 shares of common stock from the selling stockholder. Zurn Elkay will not sell any common stock in the offering and will not receive any proceeds from the sale of the shares of common stock by the selling stockholder in this offering. Evercore ISI is acting as the lead joint book-running manager. Baird is acting as an additional book-running manager. BNP Paribas, Deutsche Bank Securities, Mizuho, Oppenheimer & Co., and Stifel are acting as co-managers for the offering.