Radnor, PA, October 1, 2014—VWR Corporation (NASDAQ: VWR) announced today that it has priced an underwritten initial public offering of 25,532,000 shares of its common stock at a price to the public of $21.00 per share. The shares are expected to begin trading on The NASDAQ Global Select Market under the ticker symbol "VWR" on Thursday, October 2, 2014. In connection with the offering, VWR has granted the underwriters a 30-day option to purchase up to 3,829,800 additional shares. The offering is expected to close on October 7, 2014.
VWR intends to use the net proceeds received from the offering to redeem a substantial portion of its outstanding 10.75% senior subordinated notes due 2017 at a redemption price of 100.0% plus accrued and unpaid interest thereon.
BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are serving as lead joint book-running managers and as representatives of the underwriters for the offering, Barclays, Deutsche Bank Securities, Citigroup, Jefferies, and William Blair are acting as joint book-running managers for the offering, and Cowen and Company, Mizuho Securities, SMBC Nikko, Drexel Hamilton, and Loop Capital Markets are acting as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 1, 2014. The offering is being made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing email@example.com; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (866) 803-9204.
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.
VWR (NASDAQ: VWR), headquartered in Radnor, Pennsylvania, is a leading, independent provider of laboratory products, services and solutions with worldwide sales in excess of $4.1 billion in 2013. VWR enables science in laboratory and production facilities in the pharmaceutical, biotechnology, industrial, education, government and healthcare industries. With more than 160 years of experience, VWR offers a well-established network that reaches thousands of specialized laboratories and facilities spanning the globe. VWR has more than 8,500 associates working to streamline the way scientists, medical professionals and production engineers stock and manage their businesses. In addition, VWR supports its customers by providing other value-added service offerings, research support, laboratory services and operations services.
This press release contains forward-looking statements with respect to the initial public offering, which are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. These statements are based on certain assumptions that VWR and its management have made in light of perceptions of expected future developments and other factors VWR and its management believe are appropriate in these circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. Many factors could affect VWR's actual performance and results and could cause actual results to differ materially from those expressed in the forward-looking statements, including, among others, risks and uncertainties related to the capital markets. All forward-looking statements attributable to VWR or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and VWR undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.