Tampa-based bottled-water company Primo Brands disclosed that one of its investors sold 20 million shares for $487.4 million in a secondary offering that closed Aug. 7.
The investor, an affiliate of private equity firm One Rock Capital Partners, kept the $487.4 million from the sale, which Morgan Stanley handled. Primo didn’t sell any shares of its own.
At the same time, Primo bought another 410,340 shares from the One Rock affiliate at the same $24.37-per-share price. Primo retired those shares, taking them out of circulation…