Coty Inc - Ordinary Shares - Class A

NYSE:COTY   3:59:59 PM EDT
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Debt Financing / Related, Divestitures / Spin-offs, Other Pre-Announcement

Coty Further Says KKR Converting Remainder Of Their Convertible Preferred Shares Into Common

Published: 11/10/2021 13:22 GMT
Coty Inc - Ordinary Shares - Class A (COTY) - Coty Further Improves Capital Structure, With Kkr Converting the Remainder of Their Convertible Preferred Shares Into Common.
Coty Inc - Announced Sale of Kkr's Remaining 2.4% Ownership Stake in Coty, Converted Into Approximately 20 Million Common Shares.
Coty Inc - Deal is Expected to Be Slightly Accretive to Coty's FY22 Adjusted Eps.
Coty Inc - Following Completion of Deal, Co's Convertible Preferred Share Balance Totals Approximately $146 Million, Held by Coty's Chairman Peter Harf.
Coty Inc - No Change to Company's FY22 Adjusted EPS Guidance of $0.19-$0.23.
Coty Inc - Latest Deal Will Further Simplify Coty's Capital Structure and Result in Additional Annual Dividend Cash Savings of Approximately $11 Million.