Deal Details

Avantor, Inc. ("Avantor” or the "Company”) (NYSE: AVTR) recently completed an initial public offering of 238,050,000 shares of common stock at $14.00 per share, generating gross proceeds of approximately $3.3 billion, which included the exercise in full by the underwriters of their option to purchase additional shares of common stock on the same terms and conditions. Avantor also completed a concurrent offering of 20,700,000 shares of 6.250% Series A Mandatory Convertible Preferred Stock priced at $50.00 per share, generating gross proceeds of $1.0 billion, which included the exercise in full by the underwriters of their option to purchase additional shares of mandatory convertible preferred stock on the same terms and conditions. The Company intends to use the net proceeds to redeem all outstanding shares of existing senior preferred stock and to repay outstanding indebtedness on the Company’s Dollar Term and Euro Term loan facilities.

Baird served as a co-manager on this offering.