Corporate ActionApr 28, 2026, 06:13 AM
GMRS Announces IPO of Class A Common Stock; NYSE Listing Planned
AI Summary
GMR Solutions Inc. announced its initial public offering (IPO) of Class A common stock, with plans to list on the New York Stock Exchange under the symbol "GMRS". The offering includes a concurrent private placement of warrants to funds affiliated with KKR Stockholder, Ares, and HPS. Following the offering, KKR Stockholder will maintain significant voting power, resulting in GMRS being a "controlled company". For the year ended December 31, 2025, the company reported revenue of $5,739.8 million, net income of $206.2 million, and Adjusted EBITDA of $1,186.2 million, alongside substantial indebtedness of $5,045.9 million.
Key Highlights
- GMR Solutions Inc. announced its initial public offering of Class A common stock.
- The company intends to list its Class A common stock on the NYSE under the trading symbol "GMRS".
- Funds affiliated with KKR Stockholder, Ares, and HPS are expected to purchase Private Placement Warrants in a concurrent private placement.
- KKR Stockholder is expected to beneficially own approximately % of voting power, making GMRS a "controlled company".
- For the year ended December 31, 2025, revenue was $5,739.8 million, a (4)% change from 2024.
- Net income for 2025 was $206.2 million, representing a 911% change from 2024.
- Adjusted EBITDA for 2025 was $1,186.2 million, an 8% change from 2024.
- Total indebtedness as of December 31, 2025, was $5,045.9 million, excluding finance lease obligations.