Watsco to Issue Common Stock to UTC Canada

Contemporaneously with the joint venture formation, Watsco entered into a subscription agreement to issue and sell between 750,000 and 1,250,000 shares of its common stock to UTC Canada. The per-share price is based on a volume-weighted average price, with a potential floor of $50.00 per share.

“Contemporaneously with the Company’s entering into the Purchase Agreement and agreeing to form Carrier Enterprise Canada, on March 13, 2012, the Company entered into a subscription agreement (the “Subscription Agreement”) with UTC Canada and Carrier, pursuant to which the Company has agreed to issue and sell to UTC Canada, and UTC Canada has agreed to purchase from the Company, between 750,000 and 1,250,000 shares (the “Offered Shares”) of the Company’s Common stock, par value $0.50 per share (“Common Stock”).”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.