NEW YORK (GenomeWeb) – Thermo Fisher Scientific announced today that it has priced its previously announced underwritten public offering. The company is selling 8,771,930 shares of common stock at $171 per share for expected gross proceeds of approximately $1.5 billion before the underwriting discount and expenses.
The company said it will use the proceeds from the offering to fund a portion of its $7.2 billion acquisition of contract development and manufacturing organization Patheon, including the repayment of indebtedness of Patheon to be assumed by Thermo Fisher. The company said it now expects to complete that deal around the end of the third quarter of 2017.
Thermo Fisher has also granted the underwriters a 30-day option to purchase up to an additional 1,315,789 shares. Goldman Sachs is acting as lead book-running manager for the offering. BofA Merrill Lynch and Citigroup are acting as joint book-running managers.
The issuance of the shares is expected to close on Aug. 11.
Thermo Fisher's shares dipped about 1 percent to $172.52 in morning trading on the New York Stock Exchange.