Watsco Issues Shares to Carrier for Joint Venture Stake

As consideration for its 60% interest in the Carrier Enterprise joint venture, Watsco issued 3,080,469 shares of unregistered common stock valued at $147 million to Carrier Corporation and contributed 15 locations.

“As discussed in Item 3.02 below, the Registrant issued 3,080,469 shares of common stock to Carrier and contributed 15 locations that presently sell Carrier-manufactured products as consideration for its 60% interest in the joint venture.”

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