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SOLV Energy Reports Public Offering of Class A Shares

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SOLV Energy (MWH) said late Tuesday it has launched a public offering of 14 million Class A shares, including almost 7.2 million shares offered by affiliates of American Securities and some 6.8 million shares offered by the company.

The selling stockholders and SOLV plan to grant underwriters a 30-day option to purchase up to about 1.1 million and 1.0 million additional shares, respectively, the firm said.

The company said it plans to use the net proceeds to buy limited liability company interests in SOLV from existing holders, including affiliates of American Securities and some directors.

Shares were down over 5% in after-hours activity.

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