Core & Main launches offering of 19.8M shares of Class A common stock for holder

Core & Main announced the launch of an underwritten secondary public offering of 19.8M 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 3.13M 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 underwriters 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 and Citigroup are acting as the joint lead book-running managers for the offering.