Elanco Animal Health Incorporated Announces IPO Closing
September 24 2018 - 5:36PM
Business Wire
Elanco Animal Health Incorporated today announced the closing of
its previously announced initial public offering (“IPO”) of 62.9
million shares of its common stock at a price to the public of
$24.00 per share. In connection with the IPO, the underwriters
exercised in full their option to purchase an additional 9.435
million shares of common stock at the price to the public less
underwriting discounts, bringing the total IPO size to 72.335
million shares. The shares began trading on the New York Stock
Exchange on September 20, 2018, under the ticker symbol “ELAN.”
As of the closing of the IPO, Eli Lilly and Company (“Lilly”)
owns approximately 80.2% of Elanco, which it plans to divest
through a tax-efficient transaction.
After deducting underwriting discounts and commissions and
estimated offering expenses payable by Elanco, the net proceeds to
Elanco were approximately $1.7 billion. The net proceeds from the
IPO, net of certain amounts to be retained by Elanco, have been
paid to Lilly as partial consideration for the animal health
businesses that Lilly transferred to Elanco in connection with the
IPO.
Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley
acted as joint lead book-running managers for the offering.
Barclays, BNP Paribas, BofA Merrill Lynch, Citigroup, Credit
Suisse, Deutsche Bank Securities, Evercore ISI and Cowen acted as
book-running 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:
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;
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; 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 Elanco Animal Health Incorporated
Founded in 1954, Elanco provides comprehensive products and
knowledge services to improve animal health and food-animal
production in more than 90 countries around the world. We value
innovation, both in scientific research and daily operations, and
strive to cultivate a collaborative work environment for more than
5,800 employees worldwide. Together with our customers, we are
committed to raising awareness about global food security, and
celebrating and supporting the human-animal bond. Our worldwide
headquarters and research facilities are located in Greenfield,
Indiana.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on management's current expectations, but actual results may
differ materially due to various factors. These statements relate
to the offering and the use of proceeds therefrom. There are
significant risks and uncertainties relating to the offering.
Important factors that could cause actual results to differ
materially from management’s expectations include, without
limitation: capital market risks and the impact of general economic
or industry conditions. There can be no guarantees that Elanco will
achieve the anticipated benefits of the IPO. Elanco’s ability to
achieve the anticipated benefits of the IPO may be materially
affected by such factors as changes to the business, results of
operation or financial condition of Elanco, changes in the animal
health industry, adverse market or macroeconomic conditions and
other factors outside Elanco’s control. For additional information
about the factors that affect Elanco's business, please see its
filings with the SEC. Elanco undertakes no duty to update
forward-looking statements, except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20180924006023/en/
Elanco Animal HealthMediaColleen Parr Dekker,
317-989-7011colleen_parr_dekker@elanco.comorInvestorsJim Greffet,
317-383-9935greffet_james_f@elanco.com
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