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GMR completes approximately $1 billion IPO and concurrent private placement. Simpson Thacher represented GMR Solutions Inc. ("GMR"), a KKR portfolio company, in connection with its initial public offering (the "IPO") of Class A common stock, which, alongside the proceeds from a concurrent private placement, raised approximately $1 billion in gross proceeds. GMR's common stock is now listed on the New York Stock Exchange under the ticker symbol "GMRS." The firm also represented funds affiliated with KKR in connection with certain margin loan financings that were entered into in connection with the IPO, the proceeds of which were used to finance a concurrent private placement by KKR and other pre-IPO investors to acquire additional warrants to purchase Class A and Class B common stock. GMR is the nation's largest provider of emergency medical services ("EMS"), delivering EMS and other essential out-of-hospital care in rural and urban communities that represent more than 60% of the U.S. population. As the only national, fully integrated, air and ground EMS provider, GMR operates in approximately 1,400 counties across the country. A recognized innovator, GMR develops new solutions to meet evolving industry needs and expand access to high-quality care. With roughly 34,000 team members, GMR supports roughly 5.5 million patient encounters annually and performs a critical care intervention every 89 seconds. Its family of solutions includes ambulance EMS provider American Medical Response, as well as multiple air EMS organizations including Air Evac Lifeteam, REACH Air Medical Services, Guardian Flight, Med-Trans Corporation, and AirMed International. The Simpson Thacher team includes Sunny Cheong, Jessica Asrat, Ken Wallach, Anna LeGrett, Minaal E. Wickremesinghe, Rebecca Carroll and Ignacio Perez (Capital Markets); Jonathan Lindabury, Mimi Cheng, Marc Langer, Lindsey Meyers-Perez, Matthew Galla, Taylor Stuart, Franklin Castro and Jason Chukwuma (Margin Loan); Tristan Brown and Ryan Stott (Executive Compensation and Employee Benefits); Sophie Staples and George Rhein (Tax); Vanessa Burrows, Alison Peters and Jacob Madden (Healthcare); Brandon Adoni and John Strubing (Public Company Advisory Practice); James Rapp, Bettina Elstroth and Joshua Traube (Section 13 and 16); Mark Pflug and Kimberly Guo (M&A); Jennie Getsin (FINRA); Toby Chun (Environmental); Alysha Sekhon, Chandler Gerard-Reimer and Isabella Gonzalez (IP); and Christopher Brown and Patrick Wolff (Banking and Credit). Team and contacts. Related insights. Related services. Related Practice areas.

Oil prices keep swinging up and down, and so do stocks worldwide. Oil prices swung after a scare overnight where prices popped and then moderated, and the yo-yo moves kept stock markets worldwide unsettled. * By STAN CHOE - AP Business Writer * May 18, 2026 Updated 33 mins ago A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 18, 2026, in Tokyo. * Eugene Hoshiko - AP A person walks in front of an electronic board at a business building showing Japan's Nikkei index, Monday, May 18, 2026, in Tokyo. * Eugene Hoshiko - AP A delivery person on a bicycle waits for a traffic light near an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 18, 2026, in Tokyo. * Eugene Hoshiko - AP A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 18, 2026, in Tokyo. * Eugene Hoshiko - AP A Global Medical Response helicopter sits in front of the New York Stock Exchange before the planned IPO of GMR Solutions, Inc., Wednesday, May 13, 2026. * Richard Drew - AP Trader Michael Milano, center, works with colleagues on the floor of the New York Stock Exchange, Wednesday, May 13, 2026. * Richard Drew - AP NEW YORK (AP) - Oil prices swung Monday after a scare overnight where prices popped and then moderated, and the yo-yo moves kept stock markets worldwide unsettled. The S&P 500 was down 0.5% after flipping between modest gains and losses. The Dow Jones Industrial Average fell 35 points, or 0.1%, as of 12:47 p.m. Eastern time. The Nasdaq composite was down 1%, though it remains near its all-time high set last week like the S&P 500. The center of the action recently has been the world's bond markets, where climbing yields have cranked up the pressure on economies and stock markets worldwide. Higher yields make it more expensive for households and businesses to borrow, which U.S. homebuyers are all too familiar with because of higher mortgage rates. Higher interest rates could also make it more difficult for companies to borrow to build huge data centers for artificial-intelligence technology, which has been driving much of the U.S. economy's growth. Yields have been climbing for several reasons, and at the top of them have been oil prices. The war with Iran has trapped many oil tankers in the Persian Gulf instead of delivering crude to customers worldwide, which in turn has driven up crude's price. The price for a barrel of Brent crude oil, the international standard, got as high as $112 overnight after President Donald Trump told Iran on his social-media platform Sunday that "the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them." Prices eased from there on hopes the two sides can reach a deal that would get oil flowing worldwide again. The price for a barrel of Brent crude was at $110.93, up 1.5% from Friday. That's well above its roughly $70 price from before the war. That drop in oil prices helped boost stock markets that hadn't finished trading yet, and France's CAC 40 index went from a loss of 1.2% to a gain of 0.4%. By that point, Japan's Nikkei 225 had already finished 1% lower, with Hong Kong's Hang Seng down 1.1%. On Wall Street, Dominion Energy pushed upward on the U.S. stock market after NextEra Energy agreed to buy it in an all-stock deal to create the world's largest regulated electric utility by market value. Dominion rallied 8.9%, and NextEra fell 6.4%. Boston Scientific climbed 4% after saying it would spend $2 billion on its previously announced stock buyback program of $5 billion by the end of June. Such purchases send cash directly to investors and boost the company's per-share earnings. Delta Air Lines rose 0.4%, aided by lower oil prices and news that Berkshire Hathaway bought more than $2.6 billion of the airline's stock. Berkshire Hathaway built a reputation as a value investor able to buy stocks at low prices under its former leader, Warren Buffett. Pulling downward on Wall Street was Regeneron Pharmaceuticals. It dropped 9.9% after reporting discouraging data from a trial of a treatment for melanoma. This upcoming week will offer little in terms of data on the U.S. economy, but a heavily anticipated report on Nvidia's latest quarterly results will arrive Wednesday. The chip company has routinely blown past analysts' expectations each quarter, while forecasting even bigger growth than Wall Street had thought. It will likely need to keep up such momentum to keep AI stocks driving the market to more records. Target, Home Depot and Walmart will also report their latest quarterly results this week. In the bond market, the yield on the 10-year Treasury was at 4.59%, unchanged from late Friday. It climbed as high as 4.63% overnight when oil prices were at their heights. The yield on the 10-year Japanese government bond rallied toward its highest level since the late 1990s. Yields worldwide have been climbing on fears about higher inflation caused by higher oil prices, which in turn could push central banks not only to abandon the thought of cutting interest rates but also consider hiking rates. Higher rates would slow inflation but at the cost of hurting the economy and dragging on prices for stocks and other investments. Several solid reports on the U.S. economy recently, along with worries about the U.S. government's huge and growing debt problem, are also pushing upward on yields. AP Business Writers Chan Ho-him and Matt Ott contributed to this report.

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