Loar Announces Pricing of Initial Public Offering

WHITE PLAINS, NY / ACCESSWIRE / April 24, 2024 / Loar Holdings Inc. ("Loar"), announced today the pricing of its initial public offering of 11,000,000 shares of its common stock at $28.00 per share. In addition, Loar has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on April 25, 2024, under the ticker symbol "LOAR". The offering is expected to close on April 29, 2024, subject to customary closing conditions.

Loar intends to use the net proceeds from this offering for repayment of borrowings outstanding under its credit agreement and for general corporate purposes, including working capital.

Jefferies and Morgan Stanley are acting as lead book runners for the offering and Moelis is acting as joint book runner. Citigroup and RBC Capital Markets are additionally acting as book runners.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). This offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; and Moelis & Company LLC, Attention: Melissa Mariaschin, Managing Director and Head of Distribution, Capital Markets, 399 Park Avenue, 5th Floor, New York, NY 10022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Loar

Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today's aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the initial public offering. These statements are not historical facts but rather are based on Loar's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to the initial public offering, including the completion, timing and size of the offering, the plan to list on the New York Stock Exchange and the expected use of proceeds from the offering. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including, but not limited to, uncertainties related to market conditions and other factors relating to Loar's business described in the section titled "Risk Factors" in the prospectus included in the registration statement, in the form last filed with the SEC.

Ian McKillop
Loar Group Investor Relations

SOURCE: Loar Holdings, LLC

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