IQVIA launches secondary public offering and repurchase of common stock
Friday, December 1, 2017
IQVIA Holdings announced the launch of an underwritten, secondary public offering of 10,000,000 shares of its common stock by certain of its existing stockholders, including affiliates of TPG Global, LLC, CPP Investment Board Private Holdings, Inc., investment funds associated with Bain Capital Investors, LLC, and Leonard Green & Partners, L.P. (the “Selling Stockholders”), of which IQVIA intends to repurchase from the underwriter 2,500,000 shares (the “Repurchase”). The Repurchase will be completed outside IQVIA’s existing share repurchase program, under which IQVIA has approximately $195 million of remaining availability.
IQVIA is not offering any stock in this transaction and will not receive any proceeds from the sale of the shares by the Selling Stockholders in the offering. IQVIA’s per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriter to the Selling Stockholders. IQVIA expects to fund the Repurchase with cash on hand and borrowings from its revolving credit facility. The Repurchase is subject to completion of the offering and the satisfaction of other customary conditions.
Morgan Stanley is acting as the sole underwriter of the offering. Morgan Stanley proposes to offer the shares of IQVIA common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
An automatic shelf registration statement (including a prospectus) relating to the offering of common stock was filed with the Securities and Exchange Commission (“SEC”) on May 24, 2017 and became effective upon filing. Before you invest, you should read the registration statement, prospectus, preliminary prospectus supplement and other documents IQVIA has made available with the SEC for information about IQVIA and the offering.