KinderCare Sets IPO Price at $24 per Share for 24 Million Shares

KinderCare Learning Companies, Inc. (KLC), recognized as the largest private provider of high-quality early childhood education in the United States based on center capacity, has announced the pricing of its initial public offering (IPO) for 24,000,000 shares of common stock at a public offering price of $24.00 per share. The underwriters have an option to purchase an additional 3,600,000 shares of common stock from KinderCare at the IPO price, minus underwriting discounts and commissions, for a 30-day period. Trading of KinderCare’s common stock is anticipated to commence on The New York Stock Exchange on October 9, 2024, under the ticker symbol “KLC.” The offering is expected to close on October 10, 2024, pending standard closing conditions.

The company plans to utilize the net proceeds from the offering to pay down existing debt and cover associated expenses.

Goldman Sachs & Co. LLC, Morgan Stanley, Barclays, and J.P. Morgan are serving as lead book-running managers for the offering. UBS Investment Bank, Baird, BMO Capital Markets, Deutsche Bank Securities, and Macquarie Capital are co-managing the offering, while Loop Capital Markets, Ramirez & Co., Inc., and R. Seelaus & Co., LLC are acting as co-managers.

The offering will be conducted solely through a prospectus. Once available, interested parties may request a copy of the prospectus from the relevant parties involved in the offering.

A registration statement on Form S-1 regarding the sale of these securities was declared effective by the Securities and Exchange Commission on October 8, 2024. This announcement does not represent an offer to sell or a solicitation of an offer to buy these securities and does not constitute an offer, solicitation, or sale in any jurisdiction where such actions would be illegal before registration or qualification under the securities laws of that jurisdiction.