Form 4: GTCR Investment XI LLC Sells 11 Million Shares of Sotera Health Co (SHC) in Public Offering

GTCR Investment XI LLC and affiliated entities sold 11,062,908 shares of Sotera Health Co (SHC) in an underwritten public secondary offering at $14.3075 per share.

Summary

• GTCR Investment XI LLC, along with affiliated entities including GTCR Fund XI/A LP, GTCR Fund XI/C LP, GTCR Co-Invest XI LP, and GTCR Partners XI/A&C LP, filed a Form 4 regarding changes in beneficial ownership of Sotera Health Co (SHC).
• On March 4, 2024, the GTCR XI Funds sold 11,062,908 shares of SHC common stock in an underwritten public secondary offering.
• The sale price was $14.3075 per share.
• Following the offering, the GTCR XI Funds collectively hold 59,215,301 shares of SHC common stock.
• The shares are held directly by GTCR Fund XI/A LP (46,997,881 shares), GTCR Fund XI/C LP (11,840,751 shares), and GTCR Co-Invest XI LP (376,669 shares).
• GTCR Partners XI/A&C LP is the general partner of GTCR Fund XI/A LP and GTCR Fund XI/C LP.
• GTCR Investment XI LLC is the general partner of GTCR Co-Invest XI LP and GTCR Partners XI/A&C LP.
• The GTCR Board of Managers manages GTCR Investment XI LLC, and no single person has voting or dispositive authority over the shares.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard transaction of a private equity firm reducing its stake. The sale itself isn't inherently positive or negative.

Industry Context

Private equity firms like GTCR often reduce their stakes in portfolio companies through secondary offerings after a period of ownership and value creation. This allows them to realize gains and return capital to their investors.

Stakeholder Impact

• The sale could create short-term price volatility for Sotera Health Co's stock.
• The reduction in GTCR's stake might slightly reduce their influence on the company's strategic decisions.

Key Dates