NEW YORK (GenomeWeb News) – Beckman Coulter today said that it would offer 4.5 million shares of its common stock for $53 per share in a public offering.
The firm announced yesterday that it had filed for the offering, along with pricing two notes offerings. Beckman said that it priced $250 million worth of senior notes that mature in 2015 at a rate of 6 percent, and it priced $250 million worth of senior notes that mature in 2019 at a rate of 7 percent. Those debt offerings are expected to close on May 21.
Under the public stock offering, Beckman entered into forward sale agreements with Morgan Stanley and Goldman Sachs, under which the banks will borrow and sell to underwriters of the offering the 4.5 million shares. The shares will then be offered to the public at a price of $53 per share.
Beckman said that it expects to receive gross proceeds of $238.5 million upon settlement of the forward sale agreements and before deducting the underwriters' discount and estimated offering expenses. There also is an over-allotment option of 450,000 common shares.
Beckman will use the funds from the public stock and notes offerings to pay for its $780 million acquisition of Olympus' diagnostics business.