UL Standards & Engagement Announces Net Proceeds from UL Solutions Initial Public Offering

EVANSTON, Ill—UL Standards & Engagement today announced it received $1.03 billion in net proceeds from its sale of shares of UL Solutions Inc. Class A common stock in the upsized initial public offering of 33,800,000 shares of UL Solutions Class A common stock at a public offering price of $28.00 per share, including the full exercise by the underwriters of their overallotment option to purchase an additional 5,070,000 shares from UL Standards & Engagement. The offering closed on April 16, 2024, and UL Standards & Engagement sold 19.4% of its ownership interest in UL Solutions in the offering. 

UL Standards & Engagement intends to use all of the net proceeds from the offering to further advance its charitable mission, including its standards development and public advocacy activities, and to support the safety science research activities of its affiliated nonprofit organization, UL Research Institutes. 

Lazard acted as financial advisor to UL Standards & Engagement in the transaction. ArentFox Schiff, Jones Day, Latham & Watkins, Morgan Lewis, and Skadden acted as legal counsel to UL Standards & Engagement in the offering. 

Registration statements relating to the offering of these securities became effective on April 11, 2024. Goldman Sachs & Co. LLC and J.P. Morgan (in alphabetical order) acted as lead managing bookrunners and representatives of the several underwriters in the offering. Copies of the final prospectus relating to the 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: prospectus-ny@ny.email.gs.com 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 prospectus-eq_fi@jpmchase.com. 

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. 

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UL Standards & Engagement is a nonprofit organization that translates safety science into action through standards development, partnerships, and advocacy. Since 1903, we have developed nearly 1,700 standards and guidance documents for products ranging from fire doors to autonomous vehicles. ULSE enables innovation and grows trust by convening experts and informing policymakers and regulators as we work toward a safer, more secure and sustainable future. 

Contact

Catie Talenti
UL Standards & Engagement
Senior Strategic Communications Specialist
P: (607) 742-8766
catie.talenti@ul.org