September 10, 2021
Coty Inc., one of the world’s largest beauty companies, closed on September 10, 2021 its previously-announced registered public secondary offering of 50,000,088 shares of Coty’s outstanding Class A common stock by KKR Rainbow Aggregator L.P. (KKR), at a price to the public of US$8.53 per share. Shares of Class A common stock sold in the offering will be initially issued to KKR upon conversion of 285,576 shares of Coty’s Series B Convertible Preferred Stock held by KKR. Upon completion of the offering, KKR will retain 568,367 shares of Coty’s Series B Convertible Preferred Stock representing approximately 10.9% of Coty’s outstanding Class A common stock on an as-converted basis.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe and Ian Schuman, with associates John Slater, Paul Rafla, and Andrew Borruso.