Thermo Fisher Scientific has commenced an underwritten public offering of USD 1.5 billion of its common stock. The company also intends to grant the underwriters an option for a period of 30 days to purchase up to USD 225 million of additional shares of its common stock. All of the shares in the offering are to be sold by Thermo Fisher.
The company intends to use all of the net proceeds of the offering to fund a portion of the consideration payable for its acquisition of Patheon N.V. including the repayment of indebtedness of Patheon N.V. to be undertaken by Thermo Fisher. The company also expects to complete the transaction around the end of the third quarter of 2017, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals and completion of the company's tender offer to acquire all of the issued and outstanding shares of Patheon N.V. The offering is not conditioned upon the completion of the acquisition of Patheon N.V.
Goldman Sachs & Co. LLC is acting as the lead book-running manager for the offering. BofA Merrill Lynch and Citigroup are acting as joint book-running managers. The offering is being made pursuant to an effective registration statement on Form S-3, as amended by the post-effective amendment thereto, filed with the U.S. Securities and Exchange Commission.