DENVER,
Oct. 31,
2024 /PRNewswire/ -- Gates Industrial
Corporation plc (NYSE: GTES, "Gates" or the "Company") announced
today that certain selling stockholders affiliated with Blackstone
Inc. have commenced a secondary offering of 11,635,224 of Gates'
ordinary shares (the "Offering").
Gates is not offering any ordinary shares in the
Offering and will not receive any proceeds from the sale of
ordinary shares in the Offering. Goldman Sachs & Co. LLC is
serving as the book-running manager for the Offering.
The Company has filed a registration statement
(including a prospectus) with the Securities and Exchange
Commission (the "SEC") for the Offering to which this communication
relates. Before you invest, you should read the prospectus in that
registration statement and other documents the Company has filed
with the SEC for more complete information about the Company and
the Offering. You may get these documents for free by visiting
EDGAR on the SEC's website at www.sec.gov. Alternatively, the
Company, the underwriter or any dealer participating in the
Offering will arrange to send you the prospectus if you request it
by contacting Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866)
471-2526, or by email at Prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Gates:
Gates is a global manufacturer of innovative,
highly engineered power transmission and fluid power solutions.
Gates offers a broad portfolio of products to diverse replacement
channel customers, and to original equipment manufacturers ("OEM")
as specified components. Gates participates in many sectors of the
industrial and consumer markets. Our products play essential roles
in a diverse range of applications across a wide variety of end
markets ranging from harsh and hazardous industries to everyday
consumer applications including virtually every form of
transportation. Our products are sold in more than 130 countries
across our four commercial regions: the Americas; Europe, Middle
East & Africa;
Greater China; and East Asia & India.
Forward‐Looking Statements and
Information:
This press release contains forward-looking
statements, which involve risks and uncertainties. Forward-looking
statements include all statements that are not historical facts. In
some cases you can identify these forward-looking statements by the
use of words such as "outlook," "believes," "expects," "potential,"
"continues," "may," "will," "should," "could," "seeks," "predicts,"
"intends," "trends," "plans," "estimates," "anticipates" or the
negative version of these words or other comparable words.
Forward-looking statements are based on the Company's current
expectations and actual results may differ materially. Other risks
and uncertainties are more fully described in the section entitled
"Item 1A. Risk Factors" of the Company's Annual Report on Form 10-K
for the fiscal year ended December 30,
2023, as filed with the SEC, as such factors may be updated
from time to time in the Company's periodic filings with the SEC.
Investors are urged to consider carefully the disclosure in our
filings with the SEC, which are accessible on the SEC's website at
www.sec.gov. Gates undertakes no obligation to update or supplement
any forward-looking statements as a result of new information,
future events or otherwise, except as required by law.
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SOURCE Gates Industrial Corporation plc