BREA, Calif., Sept. 20, 2019 /PRNewswire/ -- Envista Holdings
Corporation, a subsidiary of Danaher Corporation (NYSE: DHR), today
announced the closing of its previously announced initial public
offering (IPO) of 26,768,000 shares of its common stock at a price
to the public of $22.00 per share. In
connection with the IPO, the underwriters exercised in full their
option to purchase an additional 4,015,200 shares of common stock
at the price to the public less underwriting discounts, bringing
the total IPO size to 30,783,200 shares. The shares began trading
on the New York Stock Exchange on September
18, 2019 under the ticker symbol "NVST."
As of the closing of the IPO, Danaher holds approximately 80.6%
of Envista.
After deducting underwriting discounts and commissions payable
by Envista, the net proceeds to Envista were approximately
$643.4 million. The net proceeds from
the IPO have been paid to Danaher as partial consideration for the
dental businesses that Danaher transferred to Envista in connection
with the IPO.
J.P. Morgan, Goldman Sachs & Co. LLC and Morgan Stanley
acted as joint lead book-running managers for the offering. Baird,
Evercore ISI and Jefferies acted as book-running managers for the
offering. BofA Merrill Lynch, Credit Suisse, Stifel and
William Blair acted as co-managers
for the offering.
The offering was made only by means of a prospectus. Copies of
the prospectus related to the offering may be obtained from:
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone at 866-803-9204 or by email at
prospectus-eq_fi@jpmchase.com;
Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, NY
10282, email: prospectus-ny@ny.email.gs.com, telephone:
1-866-471-2526, fax: 1-212-902-9316; or
Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, Second Floor, New
York, New York 10014.
A registration statement relating to these securities was filed
with, and declared effective by, the U.S. Securities and Exchange
Commission (SEC). This press release shall not constitute an offer
to sell or a 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 ENVISTA
Envista is a global dental products company that develops and
provides a comprehensive portfolio of dental consumables, equipment
and services to dental professionals covering an estimated 90% of
dentists' clinical needs for diagnosing, treating and preventing
dental conditions as well as improving the aesthetics of the human
smile. Envista's operating companies, Nobel Biocare Systems, Ormco
and KaVo Kerr, serve more than one
million dentists in over 150 countries.
ABOUT DANAHER
Danaher is a global science and technology innovator committed
to helping its customers solve complex challenges and improving
quality of life around the world. Its family of world class brands
has leadership positions in the demanding and attractive health
care, environmental and applied end-markets. With more than 20
operating companies, Danaher's globally diverse team of
approximately 71,000 associates is united by a common culture and
operating system, the Danaher Business System, and its Shared
Purpose, Helping Realize Life's Potential.
View original
content:http://www.prnewswire.com/news-releases/envista-announces-ipo-closing-300922538.html
SOURCE Danaher Corporation; Envista Holdings Corporation