Ranpak Holdings Corp. (NYSE: PACK), a leading provider of environmentally sustainable, systems-based, product protection solutions for e-commerce and industrial supply chains, today announced the pricing of a registered underwritten public offering of 5,000,000 shares of its Class A common stock at a public offering price of $21.00 per share, for gross proceeds of approximately $94.5 million to the Company and approximately $10.5 million to certain selling security holders of Ranpak (the “Selling Security Holders”). The offering consists of 4,500,000 shares being offered by Ranpak and 500,000 shares being offered by the Selling Security Holders. In addition, Ranpak granted the underwriter a 30-day option to purchase 750,000 additional shares, to cover over-allotments, if any. The offering is expected to close on June 1, 2021, subject to customary closing conditions.

Ranpak intends to use the net proceeds of the proposed offering for debt repayment and general corporate purposes. Ranpak will not receive any proceeds from the sale of the Class A common stock offered by the Selling Security Holders.

Goldman Sachs & Co. LLC and Baird are acting as joint book-running managers and Craig-Hallum Capital Group, Evercore Group L.L.C. and CJS Securities are acting as co-managers for the proposed offering.

A registration statement on Form S-3 (File Nos. 333-249439 and 333-232105) relating to the shares of common stock of Ranpak to be sold in the proposed offering was declared effective by the Securities and Exchange Commission (the “SEC”) on May 18, 2021. A