Maravai LifeSciences Announces Pricing of an Upsized Secondary Offering of Class A Common Stock by Selling Stockholders
April 07 2021 - 8:20PM
Maravai LifeSciences Holdings, Inc.
(Maravai) (NASDAQ: MRVI), a global provider of
life science reagents and services to researchers and biotech
innovators, today announced the pricing of an upsized public
offering of 18,000,000 shares of Maravai’s Class A common stock by
certain selling stockholders that was previously announced, at a
public offering price of $31.25 per share. The offering was upsized
by 3,000,000 shares of Maravai’s Class A common stock from what was
previously announced. In addition, the selling stockholders have
granted the underwriters a 30-day option to purchase up to an
additional 2,700,000 shares of Maravai’s Class A common stock,
which was upsized from 2,250,000 shares of Maravai’s Class A common
stock. The offering is expected to close on April 12, 2021, subject
to customary closing conditions.
Maravai will not receive any proceeds from the sale of shares by
the selling stockholders.
Morgan Stanley, Jefferies and Goldman Sachs & Co. LLC are
acting as joint book-running managers for the offering. BofA
Securities, Credit Suisse, UBS Investment Bank, Baird, William
Blair, Stifel and KeyBanc Capital Markets are also acting as joint
book-running managers, and Academy Securities, Loop Capital
Markets, Penserra Securities LLC and Tigress Financial Partners are
acting as co-managers for the offering.
The offering is being made only by means of a prospectus, copies
of which may be obtained from: Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014; Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by
telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com; or Goldman Sachs & Co.
LLC, Attention: Prospectus Department, 200 West Street, New York,
NY 10282, by telephone at 866-471-2526, by facsimile at
212-902-9316 or by email at prospectus-ny@ny.email.gs.com.
A registration statement relating to the sale of these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission (the “SEC”) on April 5, 2021.
Copies of the registration statement can be accessed by visiting
the SEC’s website at www.sec.gov. This press release shall not
constitute an offer to sell or the 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 Maravai
Maravai is a leading life sciences company providing critical
products to enable the development of drug therapies, diagnostics,
novel vaccines and support research on human diseases. Maravai’s
companies are leaders in providing products and services in the
fields of nucleic acid synthesis, bioprocess impurity detection and
analysis, and protein labeling and detection to many of the world's
leading biopharmaceutical, vaccine, diagnostics, and cell and gene
therapy companies.
Note Regarding Forward-Looking Statements
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following:
- Certain of our products are used by
customers in the production of vaccines and therapies, some of
which represent relatively new and still-developing modes of
treatment. Unforeseen adverse events, negative clinical outcomes,
or increased regulatory scrutiny of these and their financial cost
may damage public perception of the safety, utility, or efficacy of
these vaccines and therapies or other modes of treatment and may
harm our customers’ ability to conduct their business. Such events
may negatively impact our revenue and have an adverse effect on our
performance.
- We compete with life science,
pharmaceutical and biotechnology companies who are substantially
larger than we are and potentially capable of developing new
approaches that could make our products, services and technology
obsolete.
- We depend on a limited number of
customers for a high percentage of our revenue. If we cannot
maintain our current relationships with customers, fail to sustain
recurring sources of revenue with our existing customers, or if we
fail to enter into new relationships, our future operating results
will be adversely affected.
- We rely on a limited number of
suppliers or, in some cases, sole suppliers, for some of our raw
materials and may not be able to find replacements or immediately
transition to alternative suppliers.
- Such other factors as discussed
throughout the “Risk Factors” section of our Annual Report on Form
10-K dated March 22, 2021 on file with the Securities and Exchange
Commission.
Any forward-looking statement made by us in this release is
based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact Information:
Media Contact: Sara Michelmore
MacDougall
+1 781-235-3060
maravai@macbiocom.com
Investor Contact: Deb Hart
Maravai LifeSciences
+ 1 858-988-5917
ir@maravai.com
klcose@groupgordon.com
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