Avantor’s $1.95 Billion Common Stock Offering

Simpson Thacher represented Avantor in the offering.

Avantor and an entity affiliated with New Mountain Capital executed a secondary offering of Avantor common stock by New Mountain Capital and other selling stockholders. The offering of 78,726,740 shares of Avantor’s common stock (which included a full exercise of the underwriters’ option to purchase additional shares) raised approximately $1.95 billion in gross proceeds, with the selling stockholders receiving all of the proceeds from the offering.

Goldman Sachs & Co. LLC and J.P. Morgan served as the joint book-running managers and as representatives of the underwriters for the offering.

Avantor (NYSE: AVTR) is a leading global provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries.

The Simpson Thacher team advising Avantor included Joe Kaufman (Picture), Jessica Asrat, Hyo Min Kim, Catherine Ciriello and Gianna Ceophas (Capital Markets – Equity); Jon Pall (Collateral); Abram Ellis (Regulatory); Jamin Koslowe (Executive Compensation and Employee Benefits); John Creed and Sophie Staples (Tax); Adeeb Fadil and Noreen Lavan (Environmental); and Lori Lesser, Genevieve Dorment, Ellie Gladstone and Alysha Sekhon (Intellectual Property).

Involved fees earner: Jessica Asrat – Simpson Thacher & Bartlett; Gianna Ceophas – Simpson Thacher & Bartlett; Catherine Ciriello – Simpson Thacher & Bartlett; John Creed – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Elizabeth Gladstone – Simpson Thacher & Bartlett; Joseph Kaufman – Simpson Thacher & Bartlett; Hyo Min Kim – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Avantor Performance Materials, Inc.;

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Author: Ambrogio Visconti