Avantor, a LBO'd distributor and manufacturer of laboratory supplies and services, raised $2.9 billion by offering 207 million shares at $14, the low end of the revised range of $14 to $15. Avantor originally filed to raise $3.0 billion by offering 154 million shares at a range of $18 to $20. In addition, the company raised $900 million by offering 18 million mandatory convertible preferred stock.
Avantor plans to list on the NYSE under the symbol AVTR. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Barclays, Jefferies, Credit Suisse, Deutsche Bank, Evercore ISI, Guggenheim Securities, Morgan Stanley, UBS Investment Bank, Citi, Cowen, Piper Jaffray and RBC Capital Markets acted as lead managers on the deal.
