Axalta Commences Initial Public Offering | Business Wire

PHILADELPHIA–(BUSINESS WIRE)–Axalta Coating Systems Ltd. has commenced an initial public offering of

45,000,000 of its common shares. The shares will be offered by certain

affiliates of The Carlyle Group (the “selling shareholders”). The

anticipated initial offering price is between $18.00 and $21.00 per

share and the offering is being made pursuant to a registration

statement on Form S-1 previously filed with the U.S. Securities and

Exchange Commission. The selling shareholders have also granted the

underwriters a 30-day option to purchase up to an additional 6,750,000

common shares. Axalta will not receive proceeds from the offering,

including from any exercise by the underwriters of their option to

purchase additional common shares. Axalta has applied for listing of its

common shares on the New York Stock Exchange under the ticker symbol

“AXTA.”

Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P.

Morgan are lead book-running managers for the proposed initial public

offering. Additional book-running managers are BofA Merrill Lynch,

Barclays, Credit Suisse and Morgan Stanley. Co-managers are Jefferies,

UBS, Baird, BB&T Capital Markets, Nomura and SMBC Nikko.

Copies of the preliminary prospectus relating to the proposed initial

public offering may be obtained from Citigroup, c/o Broadridge Financial

Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone:

(800) 831-9146; Goldman, Sachs & Co., Attn: Prospectus Department, 200

West Street, New York, NY 10282, telephone: (866) 471-2526 or email: prospectus-ny@ny.email.gs.com;

Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street,

New York, New York 10005, telephone: 800-503-4611 or email: prospectus.CPDG@db.com;

and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island

Ave., Edgewood, NY 11717 or telephone: (866) 803-9204.

A registration statement relating to these securities has been filed

with the SEC but has not yet become effective. These securities may not

be sold nor may offers to buy be accepted prior to the time the

registration statement becomes effective. 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.

Cautionary Statement Concerning Forward-Looking Statements

This release contains certain forward-looking statements regarding

Axalta and its subsidiaries and the initial public offering of Axalta’s

common shares. All of these statements are based on management’s

expectations as well as estimates and assumptions prepared by management

that, although they believe to be reasonable, are inherently uncertain.

These statements involve risks and uncertainties, including, but not

limited to, economic, competitive, governmental and technological

factors outside of Axalta’s control that may cause its business,

industry, strategy, financing activities or actual results to differ

materially. Axalta undertakes no obligation to update or revise any of

the forward looking statements contained herein, whether as a result of

new information, future events or otherwise. The pricing information

presented herein has been provided for indicative purposes only, is an

estimate and remains subject to change.

AXALTA COATING SYSTEMS: BUILT FOR PERFORMANCE

Axalta is a leading global company focused exclusively on coatings and

providing customers with innovative, colorful, beautiful and sustainable

solutions. From light vehicle OEMs, automotive refinish and commercial

vehicles to electric motors, buildings and pipelines, our coatings are

designed to prevent corrosion, increase productivity and enable the

materials we coat to last longer. With more than 145 years of experience

in the coatings industry, the 12,000 people of Axalta continue to find

ways to serve our more than 120,000 customers in 130 countries better

every day with the finest coatings, application systems and technology.

For more information visit axaltacoatingsystems.com.

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