11 April, 2023
Company announced, that:
The Selling Stockholders are offering 5,000,000 shares of Class A common stock of Core & Main, Inc. (“Core & Main”). We will not receive any of the proceeds of the sale of Class A common stock being sold in this offering.
Concurrently with the completion of this offering, we expect (i) the Company to repurchase from the Class A Selling Stockholders (as defined herein) an aggregate of 9,377,183 shares of our Class A common stock, with Core & Main Holdings, LP (“Holdings”) redeeming from the Company a corresponding number of limited partnership interests of Holdings (“Partnership Interests”), and (ii) Holdings to redeem from the Paired Interest Selling Stockholder (as defined herein) 5,622,817 Partnership Interests, with the Company repurchasing a corresponding number of shares of our Class B common stock from the Paired Interest Selling Stockholder for no additional consideration, with each repurchase of Class A common stock and redemption of Partnership Interests at the same price per share paid by the underwriter to the Selling Stockholders in this offering (collectively, the “Repurchase”).