Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 115

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 115
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 cash during fiscal year 2022 relates primarily to capital expenditures to improve operations and expand capacity, along with the costs of implementing a new
IT platform. The use of cash in fiscal year 2021 primarily represents the cash used to acquire BlueTriton’s business.

Net cash used
in financing activities for the year ended December 31, 2022 was $147.7 million, compared to sources of cash of $3,952.4 million for the 2021 Successor Period and $99.0 million for the 2021 Predecessor Period. The use of cash
during fiscal year 2022 related to the redemption of preferred stock of $66.4 million and payment of a dividend on preferred stock of $8.6 million, the repurchase and subsequent retirement of a portion of the BlueTriton Senior Notes and
the scheduled principal payments of the BlueTriton Term Loan Facility. The source of cash in fiscal year 2021 is primarily the result of proceeds from financing the Nestlé Acquisition, partly offset by the payment of a dividends totaling
$761.3 million.

Contractual Obligations and Commitments

BlueTriton’s material contractual obligations as of December 31, 2023 consisted of long-term debt of $3,550.2 million, detailed
in Note 10, “Debt” to BlueTriton’s audited consolidated financial statements included elsewhere in this prospectus. In addition, there are future commitments under various operating and finance leases for BlueTriton’s
facilities. BlueTriton’s operating and finance lease commitments primarily include land and buildings for offices and warehouse space, vehicles, and certain machinery and equipment, and tools, furniture, and other equipment. As of
December 31, 2023, BlueTriton had total operating lease payment obligations (including imputed interest) of $731.4 million, with $102.9 million to be paid within the next 12 months and the remainder thereafter. For additional
discussion on BlueTriton’s operating and finance leases, see Note 6, “Leases” and Note 10, “Debt” to BlueTriton’s audited consolidated financial statements included elsewhere in this prospectus.

Additionally, BlueTriton may enter into unconditional purchase obligations with third party suppliers in the ordinary course of business,
which are entered into to secure access to springs, subscriptions, utilities, services and supplies vital to BlueTriton’s operations and