Company: PRMB
Filing Date: 2025-02-12
Form Type: 8-K
Source: 0001193125-25-025172
Chunk: 3

Company: Primo Brands Corp
Filing Date: 2025-02-12
Form: 8-K
Item: Item 5.01
Chunk 3
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Item 5.01.      Changes in Control of Registrant.  

As a result of the Supplemental Indentures becoming operative on the Early Settlement Date as well as the termination of the Existing Primo Revolving Credit Facility, among other things, (i) each of the 64,512,579 shares of the Company’s Class B common stock, which were held by an affiliate of One Rock Capital Partners, LLC (together with its affiliates, “ One Rock”), was converted (the “ Class B Conversion”) into one share of the Company’s Class A common stock and all of the shares of Class B common stock were retired, and (ii) One Rock is no longer subject to the limitation on voting no more than 49% of the shares of the Company’s Class A common stock outstanding, as described in the Company’s amended and restated certificate of incorporation, and is entitled to one vote per share of Class A common stock that it owns. Accordingly, the Company no longer has any outstanding shares of Class B common stock. In addition, as a result of the Class B Conversion, a change in control occurred and One Rock became the controlling person of the Company by beneficially owning 218,618,368 shares of the Company’s Class A common stock, or 57.5% of the outstanding voting stock of the Company. As a result of the Class B Conversion and consistent with the Company’s amended and restated certificate of incorporation and the Stockholders Agreement, dated as of November 7, 2024, by and between the Company and One Rock (the “ Stockholders Agreement”), One Rock is now entitled to designate eight directors to serve on the Company’s Board of Directors. Additional information regarding the Stockholders Agreement is found in Item 1.01 of the Company’sForm 8-K/Afiled on November 12, 2024, which information is incorporated herein by reference. No person or persons previously possessed control of the Company. One Rock has pledged 58,000,000 shares of Class A common stock as security for a margin loan. In an event of default under the margin loan agreement, the lenders may sell the shares pledged as security for the margin loan, which could, in certain circumstances, result in a future change in control of the Company.

The Offers and Consent Solicitations are being made, and the New Notes are being offered and issued, solely pursuant to the conditions set forth in the confidential offering memorandum and consent solicitation statement dated January 27, 2025 pursuant to