Latham & Watkins Advises on UL Solutions’ US$980 Million Secondary Public Offering of Class A Common Stock

UL Solutions Inc. (NYSE:ULS), a global leader in applied safety science, has announced the pricing of its underwritten public offering (the offering) of 20,000,000 shares of its Class A common stock at a public offering price of US$49.00 per share. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement (the selling stockholder). The underwriters have a 30-day option to purchase up to an additional 3,000,000 shares of Class A common stock from the selling stockholder at the public offering price, less underwriting discounts and commissions. UL Solutions is offering no shares of its Class A common stock in the proposed offering and will receive no proceeds from the proposed sale of the shares. The offering is expected to close on September 9, 2024, subject to customary closing conditions.

Latham & Watkins LLP represents UL Solutions and UL Standards & Engagement, the sole selling stockholder, in the offering with a capital markets team led by Chicago partners Cathy Birkeland and Christopher Lueking, with corporate governance and executive compensation attorney Mia DiBella and associates Ben Winnett, Greer Gaddie, Chelsea Carlson, and Julia Gabriel. Advice was also provided on tax matters by Chicago partner Rene de Vera.