UPDATE 1-KKR-backed GMR slashes IPO price for New York listing

Ares Management
KKR & Co

Ares Management

ARES

0.00

KKR & Co

KKR

0.00

Adds details throughout

May 12 (Reuters) - Emergency medical ‌services provider GMR Solutions on Tuesday slashed the proposed offer price for its U.S. initial public offering.

The Lewisville, ​Texas-based company, known as Global Medical Response, is now marketing 31.9 million shares at $15 apiece, well below its earlier proposed range of $22 to $25 apiece.

Funds affiliated with investment firms KKR KKR.N, Ares ARES.N and HPS are expected to buy $500 million of private placement warrants. They had earlier planned on buying $350 million of private placement warrants.

GMR is expected to price its IPO later on Tuesday and begin trading on the New York Stock Exchange on Wednesday under ​the symbol "GMRS".

J.P. Morgan, KKR and ​BofA Securities are among the underwriters on the offering.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.