Underwriters

Karman Space & Defense (KRMN) announced the pricing of a public offering of 21 million shares at $49 per share, offered by existing stockholders. Underwriters, led by Citigroup and Evercore ISI, have a 30-day option to purchase an additional 3.15 million shares. Karman will not receive any proceeds from the offering, which is expected to close on July 25th, 2025. The SEC approved the registration statement on July 23, 2025. Karman provides critical systems for the space and defense industries.

Mobileye (MBLY) priced Intel’s secondary offering of 50 million Class A shares at $16.50 each, with underwriters holding a 30-day option for 7.5 million additional shares. The offering, closing July 11, 2025, requires Mobileye’s concurrent repurchase of 6.23 million shares from Intel, approved by its board. Post-closing, Intel intends to convert 50 million Class B shares to Class A to expand the public float but will retain ownership. Mobileye will not sell shares or receive proceeds. Goldman Sachs and BofA lead the underwriting, supported by major banks. The offering is subject to SEC registration and standard closing conditions.

Torrid Holdings Inc. announced a public offering of 10,000,000 shares of common stock at $3.50, led by selling stockholders, with a closing expected around June 26, 2025. Underwriters have an option to purchase more shares. Concurrently, Torrid will repurchase $20.0 million of its stock from Sycamore Partners. Torrid will not receive proceeds from the offering. BofA Securities, Jefferies, and William Blair are managing the offering. Detailed information can be found in SEC filings.

Orange County Bancorp, Inc. (OBT) announced a public offering of 1,720,430 shares at $23.25 each, potentially raising $40-$46 million in gross proceeds. Funds will support general corporate purposes, including growth initiatives, capital strengthening, and potential acquisitions. The offering, managed by Piper Sandler and Stephens, is expected to close June 5, 2025. Investors should review SEC filings for details.