M&A - KKR & Co. Inc.

Form Type: 424B5

Filing Date: 2025-03-06

Corporate Action: Acquisition

Type: New

Accession Number: 000114036125007426

Filing Summary: KKR & Co. Inc. is offering 45,000,000 shares of its 6.25% Series D Mandatory Convertible Preferred Stock with a par value of $0.01 per share, as a prospectus supplement to a previously dated prospectus. The net proceeds from this offering are intended for the acquisition of additional equity interests in core private equity portfolio companies within its Strategic Holdings segment and other general corporate purposes. The offering price is set at $50.00 per share, aiming to raise approximately $2.25 billion, with underwriting discounts specified. Dividends will be paid on a cumulative basis at a 6.25% annual rate depending on the Board's declaration, starting from June 1, 2025. The mandatory convertible preferred stock can be converted into shares of common stock at specified rates and may involve additional benefits upon fundamental changes. There has been no prior public market for this stock, however, an application will be made for listing on the NYSE under the symbol "KKR PR D". The underwriters include major financial firms such as Morgan Stanley and Goldman Sachs.

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Form Type: 424B5

Filing Date: 2025-03-04

Corporate Action: Acquisition

Type: New

Accession Number: 000114036125006869

Filing Summary: KKR & Co. Inc. is offering 30,000,000 shares of its % Series D Mandatory Convertible Preferred Stock, utilizing the net proceeds from this offering primarily for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment, as well as for general corporate purposes. Dividends on the Mandatory Convertible Preferred Stock will be cumulative and can be declared at an annual rate on a liquidation preference of $50.00 per share. The shares can be converted to common stock on specific conditions, including an automatic conversion on the second business day following the last trading day of a defined settlement period. The company may also pay declared dividends in cash or in shares of common stock. There’s an additional option for underwriters to purchase up to 4,500,000 shares for over-allotments. KKR intends to apply for a listing of the Mandatory Convertible Preferred Stock on the NYSE. The document also emphasizes the associated risks of investing in the stock and mentions various segments of its business, including asset management and insurance through its subsidiary Global Atlantic.

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