CLEVELAND - Sotera Health Company disclosed the launch of a secondary stock offering of 25 million shares, with no new shares being issued by the company itself. The shares are being offered by current stockholders, including affiliates of private equity firms Warburg Pincus LLC and GTCR, LLC, along with two management members and one board director.
The selling shareholders have also provided underwriters a 30-day option to purchase up to an additional 3.75 million shares. Notably, the company will not receive any proceeds from the sale of these shares but will cover the expenses of the offering as per its registration rights agreement.
The underwriters for this offering include leading financial institutions J.P. Morgan, Goldman Sachs & Co (NYSE:GS). LLC, Citigroup Global Markets Inc., and Jefferies, which are acting as joint lead book-running managers.
This offering follows the effective registration of these securities with the Securities and Exchange Commission (SEC) on February 27, 2024. The offering is contingent on market conditions and other factors, with the prospectus available upon request from the aforementioned financial institutions.
Sotera Health, a global provider of sterilization solutions and lab testing services for the healthcare industry, operates through its three businesses: Sterigenics®, Nordion®, and Nelson Labs®. The company emphasizes its commitment to safeguarding global health through its services.
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