Stevanato Group Announces Underwriters’ Partial Exercise of Over-Allotment Option
August 17 2021 - 8:49AM
Business Wire
Stevanato Group S.p.A. (the “Company”), a leading global
provider of drug containment, drug delivery and diagnostic
solutions to the pharmaceutical, biotechnology and life sciences
industries, today announced that the underwriters of the Company’s
recently completed initial public offering of its ordinary shares
have exercised in part their option to acquire an additional
1,018,280 ordinary shares at $21 a share.
The offering resulted in net proceeds of approximately $453.5
million to the Company after deducting underwriting discounts and
commissions and other estimated offering expenses. The Selling
Shareholders will receive the remaining net proceeds.
Morgan Stanley, BofA Securities and Jefferies acted as lead
book-running managers for the offering. Citigroup, UBS Investment
Bank, KeyBanc Capital Markets, Wells Fargo Securities and William
Blair acted as book runners for the offering. Houlihan Lokey served
as a financial advisor to the Company.
A registration statement relating to the shares being sold in
this offering was filed with the Securities and Exchange Commission
and became effective on July 15, 2021. The offering will be made
only by means of a prospectus. Copies of the prospectus related to
the offering may be obtained from Morgan Stanley & Co. LLC,
Prospectus Department, 180 Varick Street, New York, NY 10014, or by
email to prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 Stevanato Group
Founded in 1949, Stevanato Group is a leading global provider of
drug containment, drug delivery and diagnostic solutions to the
pharmaceutical, biotechnology and life sciences industries. The
Group delivers an integrated, end-to-end portfolio of products,
processes and services that address customer needs across the
entire drug life cycle at each of the development, clinical and
commercial stages. Stevanato Group’s core capabilities in
scientific research and development, its commitment to technical
innovation and its engineering excellence are central to its
ability to offer value added solutions to clients.
For more information, please visit www.stevanatogroup.com
Forward-Looking Statements
This press release may include forward-looking statements. The
words "expect", "anticipate", "intends", "plan", "estimate", "aim",
"forecast", "project", "target" and similar expressions (or their
negative) identify certain of these forward-looking statements.
These forward-looking statements are statements regarding the
Company's intentions, beliefs or current expectations concerning,
among other things, the Company's results of operations, financial
condition, liquidity, prospects, growth, strategies, and the
industry in which the Company operates. The forward-looking
statements in this press release are based on numerous assumptions
regarding the Company’s present and future business strategies and
the environment in which the Company will operate in the future.
Forward-looking statements involve inherent known and unknown
risks, uncertainties and contingencies because they relate to
events and depend on circumstances that may or may not occur in the
future and may cause the actual results, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward looking statements. Many of
these risks and uncertainties relate to factors that are beyond the
Company's ability to control or estimate precisely, such as future
market conditions, currency fluctuations, the behavior of other
market participants, the actions of regulators and other factors
such as the Company's ability to continue to obtain financing to
meet its liquidity needs, changes in the political, social and
regulatory framework in which the Company operates or in economic
or technological trends or conditions. In particular, the Company
may determine not to conduct a registered initial public offering
in the time frame that it currently expects or at all, due to a
number of potential important factors, including conditions in the
U.S. capital markets, negative global economic conditions,
potential negative developments in the Company’s business, or
unfavorable or regulatory developments. Readers should therefore
not place undue reliance on these statements, particularly not in
connection with any contract or investment decision. Except as
required by law, the company assumes no obligation to update any
such forward-looking statements.
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Investor Relations
Lisa Miles lisa.miles@stevanatogroup.com
Media
Stevanato Group media@stevanatogroup.com
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