Company: MPM Holdings
Symbol: MPMH
Description: Momentive is one of the world’s largest producers of specialty silicones and silanes and a global leader in fused quartz and specialty ceramics products.
Shares: 14.6 million
Price Range: $23.00-$25.00
Trade Date: 11/16
Underwriter(s): J.P. Morgan, Goldman Sachs & Co.
Co-Manager(s): Citigroup, Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, BMO Capital Markets, Wells Fargo Securities
Terms Added: 11-6-17
Note: Their common stock is currently quoted on the OTCQX Marketplace under the symbol MPMQ.
Business: Momentive is based in Waterford, New York and has a long track record of creating innovative products and solutions designed to meet the complex requirements of our more than 4,000 customers in over 100 countries. Their strategic network of 24 production sites and 12 R&D facilities supports their global leadership positions and facilitates their ability to serve their blue-chip customer base across a diverse array of consumer, automotive and various industrial end-markets. They have invested significantly to develop and enhance our innovative and differentiated specialty product portfolio to address the evolving demands of the markets we serve and to maintain alignment with global megatrends.
Financials: Their net predecessor and successor net sales were $2.36 billion, $2.40 billion, $2.47 billion, $2.29 billion and $2.23 billion and their net income (loss) was ($365 million), ($464 million), $1,625 million, ($83 million), and ($163 million) in 2012, 2013, 2014, 2015 and 2016, respectively.
Net revenues, net loss and Segment EBITDA (a non-GAAP financial measure) for the nine months ended September 30, 2017 were $1,732 million, $19 million, and $210 million, respectively, and for the year ended December 31, 2016 were $2,233 million, $163 million, and $238 million, respectively. For the last twelve months ended September 30, 2017, Momentive generated $2,276 million and $275 million of net revenue and Segment EBITDA, respectively, representing a Segment EBITDA margin of 12%.
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