UL Solutions Inc., a renowned entity in safety science, has announced the pricing of its initial public offering (IPO) at $28.00 per share. The company is offering 33,800,000 shares of Class A common stock in an upsized IPO, with all shares being secondary and sold by UL Standards & Engagement. This nonprofit organization holds the distinction of being the sole stockholder of UL Solutions.
The underwriters, led by Goldman Sachs & Co. LLC and J.P. Morgan, have been granted a 30-day option to purchase up to an additional 5,070,000 shares. Notably, UL Solutions will not be selling any shares nor will it receive proceeds from this offering.
The shares are slated to commence trading on the New York Stock Exchange under the ticker symbol “ULS” on April 12, 2024, with the offering expected to close by April 16, 2024, subject to standard closing conditions.
A consortium of financial institutions, including BofA Securities, Citigroup, Jefferies, and UBS Investment Bank, are participating as bookrunners, while an array of co-managers like Baird, Raymond James, and Stifel, among others, are also involved in the offering.
UL Solutions, a global leader with a presence in over 100 countries, is dedicated to transforming safety, security, and sustainability challenges into opportunities. The company’s comprehensive services include testing, inspection, and certification, augmented by software products and advisory services. These offerings are instrumental in fostering product innovation and business expansion for their clientele. The UL Mark, a symbol of trust, underscores the company’s commitment to safety and its mission to support customer innovation, market navigation, and sustainable growth.