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Pactiv Evergreen Inc. (currently known as Reynolds Group Holdings Limited) Announces Pricing of Initial Public Offering

Pactiv Evergreen Inc. (currently known as Reynolds Group Holdings Limited) (the “Company”) today announced the pricing of its initial public offering of 41,026,000 shares of its common stock at a price to the public of $14.00 per share. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 6,153,900 shares of common stock from the Company at the initial public offering price, less underwriting discounts and commissions. An entity affiliated with Mr. Graeme Hart, the beneficial owner of the Company’s sole shareholder prior to the offering, has agreed to purchase 3,571,428 shares of common stock in the offering at the initial public offering price. The underwriters will not receive any underwriting discounts or commissions on these shares. The shares of common stock are expected to begin trading on the Nasdaq Global Select Market on September 17, 2020 under the ticker symbol “PTVE.” The offering is expected to close on September 21, 2020, subject to customary closing conditions.

Credit Suisse, Citigroup, BofA Securities …

Full story available on Benzinga.com

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