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UL Solutions Announces Launch of Initial Public Offering
[April 02, 2024]

UL Solutions Announces Launch of Initial Public Offering

UL Solutions Inc. ("UL Solutions") today announced the launch of its initial public offering (the "IPO") of 28,000,000 shares of its Class A common stock and the commencement of the roadshow for the IPO. The IPO price is expected to be between $26.00 and $29.00 per share. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, a nonprofit organization that is currently the sole stockholder of UL Solutions. The underwriters will have a 30-day option to purchase up to an additional 4,200,000 shares of Class A common stock from UL Standards & Engagement. UL Solutions is not offering any shares of its Class A common stock in the proposed offering and will not receive any proceeds from the proposed sale of the shares. UL Solutions has been approved to list its Class A common stock on the New York Stock Exchange under the ticker symbol "ULS."

Goldman Sachs & Co. LLC and J.P. Morgan (in alphabetical order) are acting as lead managing bookrunners with BofA Securities acting as a managing bookrunner. Citigroup, Jefferies and UBS Investment Bank are acting as additional bookrunners for the proposed ofering. Baird, Raymond James, Stifel, Wells Fargo Securities, William Blair, AmeriVet Securities, Bancroft Capital, Cabrera Capital Markets LLC, Loop Capital Markets and R. Seelaus & Co., LLC are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, via fax: 212-902-9316, or via email: [email protected] and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at [email protected].

A registration statement on Form S-1 relating to the proposed offering of these securities has been filed with the U.S. Securities and Exchange Commission 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 these securities, 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.

About UL Solutions
A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers' product innovation and business growth. The UL Certification Marks serve as a recognized symbol of trust in our customers' products and reflect an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains and grow sustainably and responsibly into the future.

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