UL Solutions announced the commencement of an underwritten public offering of 20M shares of its Class A common stock. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement. UL Solutions is not offering any shares of its Class A common stock in the proposed offering and will not receive any proceeds from the proposed sale of the shares. Goldman Sachs & Co. and J.P. Morgan are acting as lead managing bookrunners with BofA Securities acting as a managing bookrunner. Citigroup, UBS Investment Bank and Jefferies are acting as additional bookrunners for the proposed offering. Baird, Houlihan Lokey, PNC Capital Markets, Raymond James, Stifel, Wells Fargo Securities and William Blair are acting as co-managers for the proposed offering.
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