Montrose Environmental Group Announces Pricing of Public Offering of Shares
April 17 2024 - 11:15PM
Business Wire
Montrose Environmental Group, Inc. (the “Company” or “Montrose”)
(NYSE: MEG) announced today the pricing of the previously announced
underwritten public offering by the Company of 3,000,000 shares of
its common stock at a price of $37.15 per share (before
underwriting discounts and commissions). The Company has also
granted the underwriters a 30-day option to purchase up to an
additional 450,000 shares of common stock. All of the securities to
be sold in the offering are being offered by the Company. The
offering is expected to close on April 22, 2024, subject to the
satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering
for general corporate purposes and continued acceleration of
strategic growth initiatives, including, but not limited to,
acquisitions or business expansion, commercialization of
intellectual property given expanded environmental regulations,
research and development, software development, capital
expenditures, working capital and the repayment of debt.
J.P. Morgan, William Blair and Evercore ISI are acting as joint
leading book-running managers and representatives of the
underwriters for the offering. BofA Securities, Stifel, Needham
& Company and Capital One Securities are acting as joint
book-running managers for the offering.
The offering of these securities is being made only by means of
a prospectus supplement and related prospectus. Copies of the final
prospectus supplement and prospectus relating to the offering can
be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, by telephone: 1-866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; William Blair & Company, L.L.C.,
Attention: Prospectus Department, 150 North Riverside Plaza,
Chicago, Illinois, 60606, by phone at +1(800) 621-0687, or by email
at prospectus@williamblair.com; or Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor,
New York, New York 10055, by telephone at 1-888-474-0200 or by
email at ecm.prospectus@evercore.com.
An automatic shelf registration statement on Form S-3 relating
to these securities was filed with the Securities and Exchange
Commission on April 16, 2024 and became effective upon filing. This
press release shall not constitute an offer to sell or the
solicitation of any offer to buy, 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 Montrose
Montrose is an environmental solutions company focused on
supporting commercial and government organizations with a range of
services, from comprehensive air measurement and laboratory
services to regulatory compliance, emergency response, permitting,
engineering, and remediation.
Forward‐Looking Statements
This press release contains forward-looking statements.
Forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements may be identified by the use of words such as “intend,”
“expect”, and “may”, and other similar expressions that predict or
indicate future events or that are not statements of historical
matters. Forward-looking statements are based on current
information available at the time the statements are made and on
management’s reasonable belief or expectations with respect to
future events, and are subject to risks and uncertainties, many of
which are beyond the Company’s control, that could cause actual
performance or results to differ materially from the belief or
expectations expressed in or suggested by the forward-looking
statements. Additional factors or events that could cause actual
results to differ may also emerge from time to time, and it is not
possible for the Company to predict all of them. Forward-looking
statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update any forward-looking
statement to reflect future events, developments or otherwise,
except as may be required by applicable law. Investors are referred
to the Company’s registration statement for additional information
regarding the risks and uncertainties that may cause actual results
to differ materially from those expressed in any forward-looking
statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20240417140168/en/
Investor Relations:
Rodny Nacier (949) 988-3383 ir@montrose-env.com
Media Relations:
Sarah Kaiser (225) 955-1702 pr@montrose-env.com
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