Cummins Inc. (CMI) today announced that its Filtration business, Atmus Filtration Technologies, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") for a proposed underwritten initial public offering (IPO) of newly issued common stock.
Atmus Filtration Technologies intends to apply to have its common stock listed on the New York Stock Exchange (NYSE) under the symbol ATMU. The number of shares to be offered and the price range for the offering have not yet been determined. The IPO is expected to commence after the completion of the SEC review process, subject to market and other conditions.
Steph Disher will continue to lead Atmus Filtration Technologies as CEO alongside an experienced and capable leadership team. Atmus Filtration Technologies, which was founded by Cummins in 1958, is one of the global leaders of filtration products for on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment. The company’s name is derived from “atmosphere” and reflects its purpose of creating a better future by protecting what is important.
A registration statement on Form S-1 relating to these securities has been filed with 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. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). This announcement is being issued in accordance with Rule 135 under the Securities Act.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will act as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Baird, BofA Securities, and Wells Fargo Securities will also act as joint book running managers.