Avantor® Announces Secondary Offering of 71,339,001 Shares of Common Stock

Rhea-AI Summary

Avantor, Inc. (NYSE: AVTR) announced an underwritten secondary offering of 71,339,001 shares of common stock by certain stockholders, including an affiliate of New Mountain Capital, LLC. The underwriters, Goldman Sachs & Co. LLC and J.P. Morgan, may also purchase an additional 7,133,898 shares within 30 days. Avantor will not receive any proceeds from this offering, which has been registered with the SEC.

Prospective investors can obtain the necessary prospectus from the underwriters. This press release does not constitute an offer or solicitation for the shares.

Positive

• Secondary offering of 71,339,001 shares can increase liquidity in the market.

Negative

• The offering is conducted by selling stockholders, so Avantor will not receive any financial benefits.
• Large secondary offerings can lead to dilution of existing shares, potentially impacting stock prices negatively.

RADNOR, Pa., Nov. 4, 2020 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR) ("Avantor" or the "Company"), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, today announced that certain of its stockholders (the "Selling Stockholders"), including an affiliate of New Mountain Capital, LLC, intend to offer for sale in an underwritten secondary offering 71,339,001 shares of common stock of the Company pursuant to a registration statement filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"). The Selling Stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 7,133,898 shares of common stock on the same terms and conditions. No shares are being sold by the Company. The Selling Stockholders will receive all of the proceeds from this offering.

Goldman Sachs & Co. LLC and J.P. Morgan are serving as the joint book-running managers and as representatives of the underwriters for the offering.

A registration statement relating to these securities has been filed with the SEC and has become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus for the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department at 200 West Street, New York, NY 10282 or by telephone at 1-866-471-2526; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

About Avantor
Avantor®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. One of our greatest strengths comes from having a global infrastructure that is strategically located to support the needs of our customers. Our global footprint enables us to serve more than 225,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world.

Forward Looking Statements
This press release contains, and oral statements made from time to time by Avantor's representatives may contain, "forward-looking statements." Forward-looking statements include statements regarding the proposed public offerings and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on Avantor's current expectations and assumptions regarding capital market conditions, Avantor's business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, Avantor's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the scale and scope of the COVID-19 pandemic, regional, national or global political, economic, business, competitive, market and regulatory conditions, Avantor's ability to anticipate consumer demand; changes in consumer confidence and spending; Avantor's competitive environment and other factors set forth under "Risk Factors" in Avantor's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Avantor undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Media Contact
Allison Hosak
Senior Vice President, Global Communications
Avantor
908-329-7281
Allison.Hosak@avantorsciences.com

Investor Relations Contact 
Tommy J. Thomas, CPA
Vice President, Investor Relations
Avantor
781-375-8051
Tommy.Thomas@avantorsciences.com

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SOURCE Avantor and Financial News

FAQ

What is the purpose of Avantor's secondary offering of shares?

The secondary offering allows certain stockholders to sell their shares in the market, providing them with liquidity.

How many shares is Avantor offering for sale?

Avantor announced a sale of 71,339,001 shares of common stock.

Who is handling the underwriting for Avantor's stock offering?

Goldman Sachs & Co. LLC and J.P. Morgan are serving as joint book-running managers for the offering.

Will Avantor receive any proceeds from this secondary offering?

No, Avantor will not receive any proceeds from this offering as the shares are being sold by existing stockholders.

Is there an option for underwriters to purchase additional shares in Avantor's offering?

Yes, the underwriters may purchase up to an additional 7,133,898 shares within 30 days.