Certara Inc. Sets IPO at 24.4 Million Shares; Sees Pricing at $19-$22 Each
December 03 2020 - 10:20AM
Dow Jones News
By Colin Kellaher
Certara Inc. Thursday said it plans to sell about 14.6 million
shares at between $19 and $22 apiece in its initial public
offering.
At the $20.50 midpoint of that range, the Princeton, N.J.,
biotechnology company said it expects net proceeds of about $279.9
million.
Certara, which provides biosimulation software and technology
used to conduct virtual trials using virtual patients to predict
how drugs behave in different individuals, said current
shareholders plan to sell 9.76 million shares in the offering,
bringing the total size of the IPO to nearly 24.4 million
shares.
Private-equity firm EQT, which currently holds a 64.6% stake in
Certara, will still own a 51.8% interest after the IPO, assuming
the underwriters exercise their option to buy an additional 3.66
million shares from the selling shareholders.
In a filing with the U.S. Securities and Exchange Commission,
Certara said it will have roughly 152.7 million shares outstanding
after the IPO, for a valuation of about $3.13 billion at the
$20.50-a-share midpoint.
Certara said it expects its shares will trade on the Nasdaq
Global Select Market under the symbol CERT.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 03, 2020 10:05 ET (15:05 GMT)
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