Ortho Clinical Diagnostics Holdings plc, the world's largest pure-play in vitro diagnostics company dedicated to improving and saving lives through innovative laboratory testing and blood-typing solutions, today announced the pricing of its initial public offering of 76 million ordinary shares at $17.00 per share. The gross proceeds raised from this offering are expected to be $1,292 million. Ortho's ordinary shares are expected to begin trading on The Nasdaq Global Select Market on January 28, 2021, under the symbol "OCDX," and the offering is expected to close on February 1, 2021, subject to customary closing conditions.
Ortho has granted the underwriters a 30-day option to purchase up to 11.4 million additional ordinary shares at the initial public offering price less underwriting discounts and commissions.
Ortho intends to use the net proceeds from the offering to redeem $160 million in aggregate principal amount of 7.375% senior notes due 2025 and $270 million in aggregate principal amount of 7.250% senior notes due 2028, in each case issued by certain of Ortho's subsidiaries, repay borrowings under its dollar term loan facility, and for working capital and general corporate purposes, which may include further repayment of indebtedness.
About Ortho Clinical Diagnostics
Ortho Clinical Diagnostics is a global leader of in vitro diagnostics dedicated to improving and saving lives through innovative laboratory testing and blood-typing solutions.
Because Every Test is a Life™, we never stop innovating to offer streamlined, sustainable laboratory solutions that deliver fast, accurate, reliable test results that support exceptional patient care.
As a trusted partner of hospitals, hospital networks, blood banks, and labs around the world, we proudly serve the clinical laboratory and transfusion medicine communities with customized solutions that enhance clinical outcomes, improve lab performance, overcome staffing challenges and better manage costs.
We are powered by Ortho Care™, our global, award-winning, holistic approach to service, which supports customers with best-in-class technical support, award-winning field support, and remote service and inventory support.
