Initial Public Offering
Baird served as a co-manager on this offering
AboutPPD, Inc. (“PPD” or the “Company”) (NASDAQ-GS: PPD) recently completed an initial public offering of 69 million shares of its common stock at a public offering price of $27.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 9 million shares of common stock. The gross proceeds from the offering are $1.863 billion. The proceeds from the offering, together with cash on hand, will be used to redeem in full the Company’s two Senior PIK Toggle Notes, plus redemption premiums and accrued and unpaid interest.
PPD is a leading global contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services. PPD’s customers include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 46 countries and approximately 23,000 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a firm commitment to quality to help its customers bend the cost and time curve of drug development and optimize value in delivering life-changing therapies to improve health. PPD is headquartered in Wilmington, North Carolina.
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- February 2020
- PPD, Inc.
- Target Location
- North America