Avantor, Inc. | Stephens

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Avantor, Inc.

$2.9 Billion 05/16/2019 Healthcare Services Complete
Lead Bankers: Shawn Fitz, Stuart Irby
Public Companies
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Transaction Details

  • On May 16, 2019, Avantor, Inc. (“Avantor” or the “Company”) announced the pricing of its initial public offering of 207,000,000 shares of its common stock at an offering price of $14.00 per share
  • Concurrently with the IPO, Avantor also announced a public offering of 18,000,000 shares of its 6.25% Series A Mandatory Convertible Preferred Stock at an offering price of $50.00 per share
  • The Company also granted the underwriters a 30-day option to purchase up to an additional 31,050,000 shares of AVTR common stock, and up to an additional 2,700,000 shares of Avantor’s Mandatory Convertible Preferred Stock
  • Avantor's common stock and Mandatory Convertible Preferred Stock will each be listed on the New York Stock Exchange under the symbols “AVTR” and “AVTR PRA,” respectively
  • Avantor intends to use approximately $2,631 million of net proceeds from the two offerings to redeem all outstanding shares of Existing Senior Preferred Stock
  • The Company intends to use remaining proceeds to repay outstanding indebtedness
  • Stephens Inc. served as Co-Manager on both offerings

About the company

Avantor is a global manufacturer and distributor of high-quality products, services and solutions to professionals in the life sciences and advanced technology industries. As our channel brand, VWR offers an integrated, seamless purchasing experience that is optimized for the way our customers do business. Operating from over 30 countries worldwide, the company seeks to enable customer success in the biopharmaceutical, pharmaceutical, medical device, diagnostics, healthcare, educational, industrial, aerospace & defense, and semiconductor industries.

Sources: Company filings.
  1. This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following links: https://www.sec.gov/Archives/edgar/data/1722482/000119312519150954/d698870d424b4.htm and https://www.sec.gov/Archives/edgar/data/1722482/000119312519150958/d735692d424b4.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.