Ranpak Holdings Corp - PACK STOCK NEWS

Ranpak Holdings Corp. (NYSE: PACK) has priced a registered underwritten public offering of 5,000,000 shares of its Class A common stock at $21.00 per share, aimed at raising approximately $94.5 million for the company. This offering includes 4,500,000 shares from Ranpak and 500,000 shares from selling security holders. Additionally, the underwriter has a 30-day option for 750,000 more shares. Proceeds will be utilized for debt repayment and general corporate purposes. Closing is expected on June 1, 2021, subject to standard conditions.

Ranpak Holdings Corp. (NYSE: PACK) announced an underwritten public offering of 5,000,000 shares of its Class A common stock, including 500,000 shares from selling security holders. The company will grant underwriters a 30-day option for an additional 15% of shares. Proceeds will be used for debt repayment and general purposes. The offering is contingent on market conditions, with no assurance of completion timing or terms. Goldman Sachs & Co. and Baird are leading the offering, with additional managers involved.

Ranpak Holdings Corp (NYSE:PACK) reported a strong first quarter 2021, with net revenue rising 31.2% year over year to $85.0 million. This growth was driven by robust demand for protective packaging products, particularly in Europe and Asia, where sales surged 64.2%. Adjusted EBITDA increased by 54.7% to $28.0 million. The company's net income improved to $6.3 million from a loss of $3.6 million in Q1 2020. The balance sheet showed strong liquidity with $40.5 million in cash and no borrowings. Ranpak remains optimistic about future growth fueled by sustainability and automation trends.

Ranpak Holdings Corp. (NYSE: PACK) will release its Q1 2021 results on May 6, 2021, at 7:30 a.m. ET. A conference call and webcast are scheduled for 10:30 a.m. ET on the same day, accessible via a provided live link or by phone at (833) 579-0916. A replay will be available from 3:30 p.m. ET on May 6 until 11:59 p.m. ET on May 13, 2021. Founded in 1972, Ranpak focuses on eco-friendly packaging solutions and is recognized within e-commerce and industrial supply chains.

Ranpak Holdings Corp (NYSE: PACK) has launched the PadPak® Auto-Coiler, a new on-demand paper-based cushioning solution for heavy items. Designed to replace plastic and foam, this innovative technology enhances protection for products exceeding hundreds of pounds. The Auto-Coiler increases shock absorption with customizable options for various industries, including manufacturing and automotive. CEO Omar Asali emphasized the dual benefits of sustainability and profitability, aiming to assist manufacturers in meeting shipping and environmental goals. This launch strengthens Ranpak's position in sustainable packaging.

Ranpak Holdings Corp (NYSE: PACK) has achieved Chain of Custody certification from the Forest Stewardship Council® (FSC) for all its European manufacturing facilities. This certification ensures that packaging products for Europe, the Middle East, and Asia-Pacific markets will now be FSC certified. This move aligns with Ranpak's commitment to sustainability, allowing customers to use paper-based packaging sourced from responsibly managed forests. The announcement highlights an increased focus on reducing plastic use and improving environmental impact, reinforcing the company's mission to 'Deliver a Better World™.'

Ranpak Holdings Corp. (NYSE: PACK) reported robust financial results for Q4 2020, with net revenue reaching $90.2 million, marking a 13.9% increase year-over-year. AEBITDA rose to $33.0 million, up 14.6% from the previous year, indicating strong operational leverage. Key drivers included heightened e-commerce demand and improved industrial activity, particularly in Europe/Asia, where revenue surged 39.4%. However, the company experienced a net loss of $5.2 million during the quarter, attributed to a decline in automation revenues in North America.