Summary
Motorola Solutions, Inc. (MSI) announced on September 9, 2019, the closing of a registered underwritten public offering of approximately 5.47 million shares of its common stock. It is crucial for investors to note that these shares are being sold by existing securityholders (SLP IV Mustang Holdings, L.P. and SLP IV Mustang Holdings II, LP), and Motorola Solutions itself will not be selling any shares nor will it receive any proceeds from this offering. This transaction is being conducted under the company's existing shelf registration statement. The offering, facilitated by Morgan Stanley & Co. LLC as the underwriter, is primarily a secondary offering. While this event doesn't directly impact the company's balance sheet or cash flow, it does indicate a change in the ownership structure of a portion of MSI's outstanding shares. Investors should monitor the potential market impact of these shares becoming available for trading by the selling securityholders.
Key Highlights
- 1Motorola Solutions, Inc. (MSI) is involved in a public offering of its common stock.
- 2The offering involves the sale of 5,471,271 shares of common stock.
- 3The shares are being sold by 'Selling Securityholders' (SLP IV Mustang Holdings, L.P. and SLP IV Mustang Holdings II, LP), not by the company itself.
- 4Motorola Solutions will not receive any proceeds from this offering.
- 5The offering is being managed by Morgan Stanley & Co. LLC as the underwriter.
- 6The transaction is made under the company's existing shelf registration statement filed on Form S-3.
- 7The Underwriting Agreement contains customary representations, warranties, covenants, and indemnification clauses.