Diversey Announces Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Diversey Holdings, Ltd. (Nasdaq:DSEY) announced that underwriters of its initial public offering have purchased an additional 5,000,000 ordinary shares at $15.00 each, raising net proceeds to approximately $723 million. This brings the total ordinary shares outstanding to 309,008,357. The offering was managed by Citigroup, Morgan Stanley, Barclays, and J.P. Morgan among others. The registration statement for these securities was effective as of March 24, 2021. Diversey aims to provide innovative hygiene and infection prevention solutions globally.

Positive

• Raised approximately $723 million in net proceeds from the additional share offering.
• Total ordinary shares increased to 309,008,357, indicating growth in capital.

Negative

• None.

FORT MILL, S.C., April 15, 2021 (GLOBE NEWSWIRE) -- Diversey Holdings, Ltd. (Nasdaq:DSEY) (“Diversey”), a leading provider of hygiene, infection prevention and cleaning solutions, today announced that the underwriters of the previously announced and closed initial public offering of 46,153,846 ordinary shares exercised their option and purchased an additional 5,000,000 ordinary shares at the initial public offering price of $15.00, less the underwriting discount, which purchase of additional shares has also previously closed. The estimated net proceeds from the offering, including the exercise of the underwriters’ option, are approximately $723 million after deducting the underwriting discount and estimated offering expenses. The total number of ordinary shares outstanding after the offering is 309,008,357.

Citigroup, Morgan Stanley, Barclays and J.P. Morgan acted as book-running managers of the offering. BofA Securities, Credit Suisse, Goldman Sachs & Co. LLC, Jefferies, RBC Capital Markets, UBS Investment Bank, Baird and Guggenheim Securities also acted as book-running managers. Siebert Williams Shank acted as a co-manager of the offering.

The offering of these securities was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at barclaysprospectus@broadridge.com or telephone at 1-888-603-5847; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free: (866) 803-9204, email: prospectus-eq_fi@jpmchase.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 24, 2021. This press release does not constitute an offer to sell or the 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. 

About Diversey

Diversey’s mission is to protect and care for people through leading hygiene, infection prevention and cleaning solutions. We develop and deliver innovative, mission-critical products, services and technologies that save lives and protect our environment. Over the course of 95 years, the Diversey brand has become synonymous with product quality, service and innovation. Our fully-integrated suite of solutions combines patented chemicals, dosing and dispensing equipment, cleaning machines, services and digital analysis and serves more than 85,000 customers in over 80 countries via our vast network of approximately 8,500 employees globally.

Media Contact:
Vani Chokra – VP Customer Insights & Communications
mediarelations@diversey.com

Investor Contact:
Grant Graver – VP Investor Relations & Planning
ir@diversey.com

FAQ

What was the purpose of Diversey's recent stock offering?

The stock offering aimed to raise capital, with additional shares purchased to increase net proceeds to about $723 million.

How many total shares are outstanding for Diversey after the IPO?

After the IPO and additional share purchase, Diversey has a total of 309,008,357 ordinary shares outstanding.

Which underwriters managed Diversey's additional stock offering?

Citigroup, Morgan Stanley, Barclays, and J.P. Morgan acted as book-running managers for the offering.

What is the stock symbol of Diversey?

The stock symbol for Diversey is DSEY.

When was the registration statement for Diversey's securities declared effective?

The registration statement for Diversey's securities was declared effective on March 24, 2021.