PIOMBINO DESE, Italy - Stevanato Group S.p.A. (NYSE:STVN), a key player in the pharmaceutical and life sciences industries, has initiated a public offering of its ordinary shares valued at $300 million. The company itself is offering $150 million worth of shares, while Stevanato Holding S.r.l., a significant shareholder, is also offering shares of the same value.
The offering includes a 30-day option for underwriters to purchase up to an additional 15% of the ordinary shares sold in the offering. Stevanato Group plans to allocate the net proceeds from its share offering to support general corporate activities, which includes ongoing investment activities and working capital needs, in order to maintain operational and strategic flexibility.
Morgan Stanley (NYSE:MS) and William Blair are acting as the joint book-running managers for the offering. The shares are being offered through an automatic shelf registration statement filed with the Securities and Exchange Commission, effective as of March 20, 2024.
Stevanato Group, established in 1949, provides a comprehensive range of products and services for drug containment, delivery, and diagnostics, as well as engineering solutions tailored to the pharmaceutical, biotechnology, and life sciences sectors.
The company emphasizes its commitment to scientific research, technical innovation, and engineering excellence, which it believes are essential to its ability to deliver value-added solutions to its clients.
The current offering is subject to market conditions, and there are no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. This press release is based on a press release statement and does not serve as an offer to sell or the solicitation of an offer to buy any securities.
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