Medpace Holdings announces pricing of IPO
Medpace Holdings has announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $23 per share.
All of the shares of common stock are being offered by Medpace. In addition, Medpace has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock from Medpace at the initial public offering price, less underwriting discounts and commissions. Medpace’s common stock is expected to begin trading on the NASDAQ Global Select Market on August 11, 2016 under the ticker symbol “MEDP,” and the offering is expected to close on August 16, 2016, subject to customary closing conditions.
Medpace intends to use the net proceeds of this offering to repay a portion of its outstanding borrowings under its senior secured term loan facility.
The offering is being made only by means of a prospectus.
A registration statement relating to the securities being sold in the offering has been declared effective by the Securities and Exchange Commission.
Medpace is a scientifically-driven, global, full-service clinical CRO providing phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace’s mission is to accelerate the global development of safe and effective medical therapeutics through its physician-led, high-science, and disciplined operating approach that leverages regulatory and therapeutic expertise across all major areas including oncology, cardiology, metabolic disease, endocrinology, central nervous system and anti-viral and anti-infective. Headquartered in Cincinnati, Ohio, Medpace employs approximately 2,300 people across 35 countries.