Launch of IPO Roadshow by Arm
Arm Holdings plc (“Arm”), a subsidiary of SoftBank Group Corp. (“SBG”), announced on September 5, 2023 (U.K. time) that it has launched a roadshow for the initial public offering (the “IPO”) of American depositary shares (“ADSs”) representing its ordinary shares.
A total of 95,500,000 ADSs are being offered by the selling shareholder, Kronos II LLC, an indirect wholly-owned subsidiary of SBG, in the IPO. The selling shareholder expects to grant the underwriters an option to purchase up to an additional 7,000,000 ADSs to cover over-allotments, if any, for 30 days after the date of the final prospectus. The IPO price per ADS is estimated to be between $47.00 and $51.00. Arm has applied to list the ADSs on the Nasdaq Global Select Market under the symbol “ARM”.
Following the IPO, SBG is expected to beneficially own approximately 90.6% of outstanding ordinary shares (or approximately 89.9% if the underwriters exercise in full their option to purchase additional ADSs from the selling shareholder) of Arm. Therefore Arm will continue to be a consolidated subsidiary of SBG. SBG does not expect that the aforementioned IPO would have a material effect on its consolidated results or financial position.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) 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. The proposed IPO will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the IPO may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847 or by email at firstname.lastname@example.org; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at email@example.com; 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 firstname.lastname@example.org or Mizuho Securities USA LLC, Attention: U.S. ECM Desk, 1271 Avenue of the Americas, New York, NY 10020, by telephone at (212) 205-7602 or by email at US-ECM@mizuhogroup.com. There will be no solicitation or offering in Japan in the proposed IPO.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offers to sell, solicitations of offers to buy, or sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended. The IPO is subject to market and other conditions and the completion of the SEC’s review process.
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