BioCentury
ARTICLE | Financial News

Catalent raises $871.3 million in NYSE IPO

August 1, 2014 12:41 AM UTC

Catalent Inc. (NYSE:CTLT) raised $871.3 million through the sale of 42.5 million shares at $20.50 in an IPO on the NYSE. The price values the company at $2.4 billion. Earlier this month, the company amended the offering to sell the same number of shares at $19-$22. Catalent filed to raise up to $100 million in the offering in January. Morgan Stanley; JPMorgan; BofA Merrill Lynch; Goldman Sachs; Jefferies; Deutsche Bank; Blackstone Capital Markets; Piper Jaffray; Raymond James; Wells Fargo Securities; William Blair; and Evercore are underwriters.

Catalent provides delivery technologies -- including oral, injectable and respiratory delivery technologies -- for drugs, biologics and consumer health products. For the fiscal year ended June 30, Catalent reported $1.8 billion in revenues. The company was created in April 2007 when private equity firm Blackstone Group acquired the pharmaceutical technologies and services segment of Cardinal Health Inc. (NYSE:CAH). ...