Ranpak Holdings Corp. 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Ranpak Holdings Corp. on May 28, 2021, covering events occurring on May 26 and May 27, 2021. The filing details the execution of an underwriting agreement for a public offering of Class A common stock and the subsequent full exercise of an over-allotment option.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The primary financial data relates to the capital raise:
- Offering Price: $21.00 per share.
- Initial Shares Sold by Company: 4,500,000 shares.
- Shares Sold by Selling Security Holders: 500,000 shares.
- Over-Allotment Option: 750,000 shares (exercised in full).
- Total Company Shares Issued: 5,250,000 shares (4.5M initial + 0.75M over-allotment).
Material Changes
The material change reported is the expansion of the company's capital base through the issuance of new equity. On May 27, 2021, underwriters exercised the option to purchase an additional 750,000 shares, increasing the total number of shares the Company agreed to sell from 4,500,000 to 5,250,000.
Outlook and Management Commentary
The Company expects the closing of the offering, including the over-allotment shares, to occur on June 1, 2021, subject to customary closing conditions. The underwriters for the transaction are Goldman Sachs & Co. LLC and Robert W. Baird & Co. Incorporated. No specific forward-looking guidance regarding operational performance or future earnings is provided in this document.
Investor Verification Checklist
- Verify the final closing date of the offering (expected June 1, 2021) and confirmation of fund receipt.
- Review the full text of the Underwriting Agreement (Exhibit 1.1) for specific underwriting discounts and fees.
- Confirm the dilution impact of the 5,250,000 new shares issued by the Company on existing shareholders.
- Check subsequent filings for the actual use of proceeds from the capital raise.