MIAMI--(BUSINESS WIRE)--Feb. 24, 2017--
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 firstname.lastname@example.org
or Baird, Attention: Syndicate Department, 777 East Wisconsin Avenue,
Milwaukee, WI 53202, or by email at email@example.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
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170224005388/en/
Source: Watsco, Inc.
Barry S. Logan, 305-714-4102
Senior Vice President