Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 115

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 115
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 into the Stockholders Agreement setting forth certain governance and other rights of the Sponsor Stockholders (inclusive of any permitted transferees of the Initial ORCP Stockholder). For additional information, see “Corporate Governance—Stockholders Agreement” above. LIQUIDITY AND TRANSFER RESTRICTIONS From the Closing until the three-month anniversary of the Closing, the Sponsor Stockholders were subject to a lockup provision in the Stockholders Agreement that restricted transfers of Common Stock, other than to certain permitted transferees, or in certain types of transactions in which the transferee agreed to be bound by a lockup. The ORCP Stockholders requested, and on November 15, 2024, the Company, acting with the approval of an independent ad hoc committee of the Board, granted, a limited waiver of the lock-up provisions to facilitate the ORCP Stockholders taking a margin loan from institutional lenders (the “ Margin Loan”), secured by a pledge of 58,000,000 shares of Common Stock owned by the ORCP Stockholders. The subsequent agreement entered into by the Sponsor Stockholders in connection with the secondary offering of our Common Stock that closed on March 12, 2025 carved out the shares pledged under the Margin Loan. The ORCP Stockholders may not pledge additional Company equity to secure the loan. MARGIN LOAN In connection with the Margin Loan, the Company entered into customary issuer agreements with Triton Water Equity Holdings, LP, Triton Water Equity Holdings GP, LLC, and the other parties thereto whereby we made certain representations to the parties in relation to the pledge of 58,000,000 shares of Common Stock as collateral for entering into the Margin Loan (the “ pledged shares”). In connection with the foregoing, the Company waived the transfer restrictions under the Stockholders Agreement described in the preceding paragraph with respect to the pledged shares. REPURCHASE TRANSACTION In connection with the secondary offering of our Common Stock sold by the ORCP Stockholders that closed on March 12, 2025, the Company repurchased 4,000,000 shares from the underwriters for the offering for a purchase price of $28.516765 per share or aggregate consideration of $114,067,060, representing a per-share purchase price equal to the price paid by the underwriters to the ORCP Stockholders in the offering (the “ March 2025 Repurchase”). INDEMNIFICATION AGREEMENT Pursuant to our Bylaws and upon consummation of the Transaction, we entered into indemnification agreements with each of our