Cummins on Thursday announced its Filtration business has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for a proposed underwritten initial public offering (IPO) of newly issued common stock of the business in the United States.
The number of shares to be offered and the price range for the IPO have not yet been determined. The IPO is expected to commence after the completion of the SEC review process, subject to market and other conditions, Cummins states.
Cummins adds its press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. This announcement is being issued in accordance with Rule 135 under the Securities Act, the company adds.