By Colin Kellaher

 

Danaher Corp. on Friday said it expects to net about $3 billion from upsized public offerings of common and preferred stock.

The Washington science and technology company said it priced an offering of 9.5 million common shares at $163 apiece, for expected net proceeds of about $1.5 billion.

Danaher also priced 1.55 million 5% Series B mandatory convertible preferred shares at $1,000 each, for net proceeds of roughly $1.51 billion.

The company could pick up another $300 million if the underwriters exercise their overallotment options in full.

Danaher, which on Thursday announced plans to sell $1.25 billion each of common and preferred, said it will use the proceeds for general corporate purposes.

Shares of Danaher closed Thursday at $163.48.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

May 08, 2020 06:28 ET (10:28 GMT)

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