Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 92

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 92
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1933, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, and are also not being registered under any state or foreign securities laws. 56

As of 5:00 p.m., New York City time, on February 7, 2025, the expiration date and withdrawal deadline for early tenders in the Offers and Consent Solicitations, we have obtained the Requisite Consents. As a result, we expect to effectuate the Proposed Amendments, as a result of which, among other things, (i) the Beneficial Ownership Sunset Time will occur, (ii) all of our shares of Class B Common Stock, which are currently held by the ORCP Stockholders, shall automatically convert into an equal number of shares of Class A Common Stock, (iii) ORCP, as well as the ORCP Group, would no longer be subject to the limitation on voting no more than 49% of the shares of Class A common stock then outstanding (as described in “Description of Capital Stock—Common Stock—Voting Rights”), and (iv) we will be deemed a “controlled company” within the meaning of the NYSE corporate governance standards. If we do become a “controlled company” by such standards, we do not currently intend to rely on any of the related corporate governance exemptions. However, we may elect to rely on certain of these exemptions if they are available to us in the future. See “Management—Director Independence and Controlled Company Exemption.” Substantially concurrently with the issuance of the New Notes, the Company expects to (i) repay any amounts outstanding, and terminate commitments, under the BlueTriton ABL Credit Facility, (ii) repay any amounts outstanding, and terminate commitments, under the Primo Water Revolving Credit Facility, and (iii) enter into an amended credit agreement (the “Amended Credit Agreement”) providing for, among other things, (x) a repricing of the Company’s existing term loan facility and (y) a new revolving credit facility, which will provide for revolving loans, swing line loans, and letters of credit in an aggregate amount of up to $750.0 million and which will mature in February 2030 (the “New Revolving Credit Facility,” the transactions referred to in clauses (i) through (iii), the “Credit Facilities Transactions,” and the Credit Facilities Transactions, together with the Offers and Consent Solicitations, collectively, the “Refinancing Transactions”). Trends and Factors Affecting