MIAMI--(BUSINESS WIRE)--Watsco, Inc. (NYSE: WSO) today announced the pricing of the offering by certain subsidiaries of United Technologies Corp. of 4,235,685 shares of the Company’s Common stock at a price to the public of $144.00 per share. The offering is expected to close on February 28, 2017, subject to customary closing conditions. The selling shareholders will receive all of the proceeds of this offering. No shares are being sold by Watsco.
Goldman, Sachs & Co. and Baird are acting as joint book-running managers for the offering. Watsco has previously filed an automatically effective shelf registration statement (including a preliminary prospectus supplement) with the SEC for the offering to which this communication relates. Before making any investment decision, you should read the prospectus in that registration statement and other documents (including the preliminary prospectus supplement) Watsco has filed with the SEC for more complete information about Watsco and this offering. Watsco intends to file a further prospectus supplement with respect to this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at: www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering also may be obtained from: Watsco, 2665 S. Bayshore Drive, Suite 901, Miami, Florida, 33133, Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department (Tel: 212-902-1171, Fax: 212-902-9316), or by email at prospectus-ny@ny.email.gs.com or Baird, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, or by email at syndicate@rwbaird.com, or by telephone at (800) 792-2473.
This press release shall not constitute an offer to sell or the solicitation of an 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. The proposed offering of these shares of Common stock is being made only by means of a Watsco prospectus supplement and a related prospectus.
About Watsco, Inc.
Watsco is the largest distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC/R industry, currently operating 565 locations serving 88,000 customers in the United States, Canada, Mexico and Puerto Rico with additional market coverage on an export basis to portions of Latin America and the Caribbean. Watsco's strategy provides the products, support and convenience that contractors require to satisfy the needs of homeowners and businesses that depend on the comfort and energy-efficiency provided by HVAC systems.
Forward-Looking Statements and Information
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Forward-looking statements speak only as of the date the statement was made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law. Detailed information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K.
