Maravai LifeSciences Announces Closing of Secondary Offering of Class A Common Stock by Selling Stockholders and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) announced the closing of a public offering of 20.7 million shares of its Class A common stock by certain selling stockholders at $31.25 per share. This offering included the full exercise of underwriters' option for an additional 2.7 million shares. Notably, Maravai did not receive any proceeds from this sale. Major banks including Morgan Stanley and Jefferies served as joint book-running managers for the offering.
- Successful closing of a public offering of 20.7 million shares.
- Full exercise of underwriters' option to purchase additional shares.
- Maravai did not receive any proceeds from the offering, indicating reliance on selling stockholders.
SAN DIEGO, April 12, 2021 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today announced the closing of a public offering of 20,700,000 shares of Maravai’s Class A common stock by certain selling stockholders that was previously announced, including the full exercise of the underwriters’ option to purchase up to 2,700,000 additional shares of Class A common stock, at a price of
Maravai did not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley, Jefferies and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. BofA Securities, Credit Suisse, UBS Investment Bank, Baird, William Blair, Stifel and KeyBanc Capital Markets also acted as joint book-running managers, and Academy Securities, Loop Capital Markets, Penserra Securities LLC and Tigress Financial Partners acted as co-managers for the offering.
Perella Weinberg Partners L.P. served as capital markets advisor to Maravai. Kirkland & Ellis LLP provided legal counsel to Maravai and Davis Polk & Wardwell LLP provided legal counsel to the underwriters.
A registration statement on Form S-1 relating to these securities was filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 7, 2021. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the securities has been filed with the SEC and may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526, by facsimile at 212-902-9316 or by email at prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About Maravai
Maravai is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. Maravai’s companies are leaders in providing products and services in the fields of nucleic acid synthesis, bioprocess impurity detection and analysis, and protein labeling and detection to many of the world's leading biopharmaceutical, vaccine, diagnostics, and cell and gene therapy companies.
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