January 28, 2021 – Ortho Clinical Diagnostics Holdings plc (Raritan, NJ) announced the pricing of its initial public offering of 76 million ordinary shares at $17.00 per share.
The company expects the gross proceeds raised from this offering to be $1,292 million.
Ortho’s ordinary shares are expected to begin trading on The Nasdaq Global Select Market on January 28, 2021, under the symbol “OCDX,” and the offering is expected to close on February 1, 2021, subject to customary closing conditions.
Ortho has granted the underwriters a 30-day option to purchase up to 11.4 million additional ordinary shares at the initial public offering price less underwriting discounts and commissions.
Ortho intends to use the net proceeds from the offering to redeem $160 million in aggregate principal amount of 7.375% senior notes due 2025 and $270 million in aggregate principal amount of 7.250% senior notes due 2028, in each case issued by certain of Ortho’s subsidiaries, repay borrowings under its dollar term loan facility, and for working capital and general corporate purposes, which may include further repayment of indebtedness.