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Solventum Announces Pricing of Secondary Offering of Common Stock

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Solventum Corporation (NYSE: SOLV) has announced the pricing of a secondary offering of 8.8 million shares of common stock, which is expected to generate approximately $648 million in gross proceeds for 3M Company, the selling shareholder.

The offering, expected to close around August 15, 2025, is being managed by Goldman Sachs & Co. LLC and BofA Securities. Importantly, Solventum will not receive any proceeds from this transaction as all shares are being sold by 3M Company. The offering is being made through the company's shelf registration statement that became effective on August 13, 2025.

Solventum Corporation (NYSE: SOLV) ha annunciato il pricing di un'offerta secondaria di 8,8 milioni di azioni ordinarie, che dovrebbe generare circa $648 milioni di proventi lordi per 3M Company, l'azionista venditore.

L'offerta, il cui closing è previsto intorno al 15 agosto 2025, è gestita da Goldman Sachs & Co. LLC e BofA Securities. È importante sottolineare che Solventum non riceverà alcun ricavo da questa operazione, poiché tutte le azioni sono vendute da 3M Company. L'offerta viene effettuata tramite il documento di registrazione 'shelf' della società, divenuto efficace il 13 agosto 2025.

Solventum Corporation (NYSE: SOLV) ha anunciado el precio de una oferta secundaria de 8,8 millones de acciones ordinarias, que se espera genere aproximadamente $648 millones en ingresos brutos para 3M Company, el accionista vendedor.

La oferta, que se espera cierre alrededor del 15 de agosto de 2025, está gestionada por Goldman Sachs & Co. LLC y BofA Securities. Es importante destacar que Solventum no recibirá ningún ingreso por esta transacción, ya que todas las acciones las vende 3M Company. La oferta se realiza a través del registro 'shelf' de la compañía, que entró en vigor el 13 de agosto de 2025.

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Solventum Corporation (NYSE: SOLV) a annoncé le prix d'une offre secondaire de 8,8 millions d'actions ordinaires, qui devrait générer environ $648 millions de produit brut pour 3M Company, l'actionnaire vendeur.

L'offre, dont la clôture est prévue vers le 15 août 2025, est gérée par Goldman Sachs & Co. LLC et BofA Securities. Il est important de noter que Solventum ne recevra aucun produit de cette opération, toutes les actions étant vendues par 3M Company. L'offre est réalisée via le dossier d'enregistrement 'shelf' de la société, devenu effectif le 13 août 2025.

Solventum Corporation (NYSE: SOLV) hat die Preisfestsetzung für ein Sekundärangebot von 8,8 Millionen Aktien Stammaktien bekanntgegeben, das voraussichtlich etwa $648 Millionen Bruttoerlös für die verkaufende Aktionärin 3M Company einbringen wird.

Das Angebot, dessen Abschluss für etwa den 15. August 2025 erwartet wird, wird von Goldman Sachs & Co. LLC und BofA Securities begleitet. Wichtig ist, dass Solventum aus dieser Transaktion keine Erlöse erhält, da alle Aktien von 3M Company verkauft werden. Das Angebot erfolgt über die Shelf-Registrierung der Gesellschaft, die am 13. August 2025 wirksam wurde.

Positive
  • None.
Negative
  • Significant 8.8 million share secondary offering could pressure stock price
  • Company receives no proceeds from the $648 million offering
  • Potential market overhang from large block of shares being sold by 3M Company

Insights

3M's $648M selldown of Solventum shares represents significant ownership reduction with neutral implications for Solventum's operations.

This secondary offering of 8.8 million shares priced at approximately $73.64 per share will generate $648 million in proceeds for 3M Company, with Solventum receiving none of the proceeds. This transaction represents a significant stock disposal by 3M, which was Solventum's former parent company following their separation (Spin-Off) mentioned in the risk factors.

The pricing details reveal several important aspects about market perception. With Goldman Sachs and BofA Securities as underwriters, the placement has institutional backing that typically helps ensure orderly market execution. The transaction size suggests 3M is substantially reducing its ownership stake in Solventum following their previous spin-off arrangement.

While secondary offerings often create temporary pressure on share prices due to increased supply, they can also improve long-term trading liquidity by increasing the public float. For existing Solventum shareholders, this transaction represents no immediate financial impact on the company's operations or balance sheet since proceeds go entirely to 3M. However, it may signal the completion of 3M's planned divestiture strategy following the spin-off.

The transaction is structured through a shelf registration which became effective August 13, indicating this sale was planned and executed efficiently. The expected closing date of August 15 suggests a standard two-day settlement process for this significant block trade. Investors should note that large secondary offerings like this can sometimes create short-term price volatility but generally have minimal long-term fundamental impact on the issuing company when proceeds don't flow to the company itself.

ST. PAUL, Minn., Aug. 13, 2025 /PRNewswire/ -- Solventum Corporation(NYSE: SOLV) (the "Company" or "Solventum") today announced the pricing of the previously announced secondary offering (the "Offering") of 8,800,000 shares of its common stock, which is expected to result in gross proceeds of approximately $648 million to 3M Company (the "Selling Shareholder"). All of the shares of common stock are being sold by the Selling Shareholder, andSolventum will not receive any of the proceeds from the Offering. The Offering is expected to close on or about Aug. 15, 2025, subject to customary closing conditions.

Goldman Sachs & Co. LLC and BofA Securities are acting as the underwriters for the Offering.

The shares of common stock are being offered pursuant to the Company's shelf registration statement (and prospectus) on Form S-3, which became automatically effective upon filing with the U.S. Securities and Exchange Commission (the "SEC") on Aug. 13, 2025. The Offering is being made only by means of a preliminary prospectus supplement, filed with the SEC on Aug. 13, 2025, and the accompanying prospectus. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus in that registration statement in their entirety and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. You may obtain these documents for free by visiting EDGAR on the SEC website at . Alternatively, a copy of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, by facsimile at 212-902-9316, or by email at [email protected] or BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, Email: [email protected].

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 law of any such state or jurisdiction.

Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information 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 involve inherent risks and uncertainties, and several important factors could cause actual results to differ materially from those contained in any such forward-looking statement. Forward-looking statements include those containing such words as"anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Among the factors that could cause actual results to differ materially from those described in our forward-looking statements are the following: (1) the effects of, and changes in, worldwide economic, political, regulatory, international, trade and geopolitical conditions, natural disasters, war, public health crises, and other events beyond Solventum's control; (2) operational execution risks; (3) damage to Solventum's reputation or its brands; (4) risks from acquisitions, strategic alliances, divestitures and other strategic events, including the divestiture of our Purification and Filtration business; (5) Solventum's business dealings involving third-party partners in various markets; (6) Solventum's ability to access the capital and credit markets and changes in Solventum's credit ratings; (7) exposure to interest rate and currency risks; (8) the highly competitive environment in which Solventum operates and consolidation in the healthcare industry; (9) reduction in customers' research budgets or government funding; (10) the timing and market acceptance of Solventum's new product and service offerings; (11) ongoing working relationships with certain key healthcare professionals; (12) changes in reimbursement practices of governments or private payers or other cost containment measures; (13) Solventum's ability to obtain components or raw materials supplied by third parties and other manufacturing and related supply chain difficulties, interruptions, and disruptive factors; (14) legal and regulatory proceedings and legal compliance risks (including third-party risks) with regards to antitrust, Foreign Corrupt Practices Act and other anti-bribery laws, environmental laws, anti-kickback and false claims laws, privacy laws, tax laws, and other laws and regulations inthe United Statesand other countries in which Solventum operates; (15) potential liabilities related to a broad group of perfluoroalkyl and polyfluoroalkyl substances, collectively known as "PFAS"; (16) risks related to the highly regulated environment in which Solventum operates; (17) risks associated with product liability claims; (18) climate change and measures to address climate change; (19) security breaches and other disruptions to information technology infrastructure; (20) Solventum's failure to obtain, maintain, protect, or effectively enforce its intellectual property rights; (21) pension and postretirement obligation liabilities; (22) any failure by3MCompany to perform any of its obligations under the various separation agreements entered into in connection with the separation of Solventum from3M Companyand distribution (the "Spin-Off"); (23) any failure to realize the expected benefits of the Spin-Off; (24) a determination by the IRS or other tax authorities that the Spin-Off or certain related transactions should be treated as taxable transactions; (25) indebtedness incurred in the financing transactions undertaken in connection with the Spin-Off and risks associated with additional indebtedness; (26) the risk that incremental costs of operating on a standalone basis (including the loss of synergies), costs of restructuring transactions and other costs incurred in connection with the Spin-Off will exceed Solventum's estimates; (27) the impact of the Spin-Off on Solventum's businesses and the risk that the Spin-Off may be more difficult, time-consuming or costly than expected, including the impact on Solventum's resources, systems, procedures and controls, diversion of management's attention and the impact on relationships with customers, suppliers, employees and other business counterparties; and (28) the impact of a significant number of shares of our common stock that may be sold by the Selling Shareholder.

The above list is not exhaustive or necessarily set forth in the order of importance. Forward-looking statements are based on certain assumptions and expectations of future events and trends, and actual future results and trends may differ materially from historical results or those reflected in any such forward-looking statements depending on a variety of factors. A further description of these factors is located under "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in Solventum's periodic reports on file with the SEC. Solventum assumes no obligation to update any forward-looking statements discussed herein as a result of new information or future events or developments.

About Solventum
At Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers' toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients' lives for the better � while empowering healthcare professionals to perform at their best.

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SOURCE Solventum

FAQ

How many shares is Solventum (NYSE:SOLV) offering in its August 2025 secondary offering?

Solventum is offering 8.8 million shares of common stock, expected to generate approximately $648 million in gross proceeds for 3M Company.

Will Solventum receive any proceeds from the August 2025 secondary offering?

No, Solventum will not receive any proceeds from the offering as all shares are being sold by 3M Company (the Selling Shareholder).

Who are the underwriters for Solventum's 2025 secondary offering?

Goldman Sachs & Co. LLC and BofA Securities are acting as the underwriters for the offering.

When will Solventum's secondary stock offering close?

The offering is expected to close on or about August 15, 2025, subject to customary closing conditions.

How can investors access the prospectus for Solventum's secondary offering?

Investors can access the prospectus through the SEC website (www.sec.gov) or by contacting Goldman Sachs or BofA Securities directly.
Solventum Corporation

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12.46B
138.79M
20%
67.89%
2.23%
Medical Instruments & Supplies
Surgical & Medical Instruments & Apparatus
United States
ST. PAUL