Core & Main, Inc., a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, announced the pricing of its initial public offering (IPO) of 34,883,721 shares of its Class A common stock at a public offering price of $20.00 per share. All of the shares of Class A common stock are being offered by Core & Main. Core & Main has granted the underwriters a 30-day option to purchase up to an additional 5,232,558 shares of its Class A common stock at the IPO price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange on July 23, 2021, under the ticker symbol “CNM.” The offering is expected to close on July 27, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Credit Suisse and J.P. Morgan are acting as lead book-running managers for the proposed offering. BofA Securities, Baird, Citigroup, RBC Capital Markets, Barclays and Deutsche Bank Securities are acting as additional book-running managers.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (SEC) on July 22, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected];
• Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, telephone: 1-800-221-1037, or by emailing [email protected]; or
• J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or 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.

About Core & Main

Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. Core & Main’s specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed IPO. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Core & Main, including those set forth in the Risk Factors section of the registration statement and the preliminary prospectus included therein. Copies are available on the SEC’s website at www.sec.gov. Core & Main undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contacts

Investor Relations:
Robyn Bradbury: 314-995-9116
[email protected]

Media Relations:
Jennifer Noonan: 314-750-9670
[email protected]