Core & Main announces offering of 18M shares of Class A common stock for holders

Core & Main announced the launch of an underwritten secondary public offering of 18M shares of its Class A common stock by certain selling stockholders. Core & Main is not offering any shares of Class A common stock in the offering and will not receive any proceeds from the offering. In addition, Core & Main announced that concurrent with the completion of the offering, it expects to repurchase and redeem, as the case may be, from the selling stockholders 3.125M shares of its Class A common stock and 1.87M partnership interests of the company’s subsidiary Core & Main Holdings, LP at the same per share price to be paid by the underwriter to the selling stockholders in the offering. The closing of the repurchase is subject to the closing of the offering. The closing of the offering is not conditioned upon the closing of the repurchase. J.P. Morgan Securities LLC is acting as the sole underwriter for the offering.