PPD, Inc. (PPD) has announced the pricing of its initial public offering of 60 million shares of its common stock at $27.00 per share. Shares of PPD’s common stock are expected to begin trading on The Nasdaq Global Select Market on Feb. 6, 2020, under the symbol “PPD,” and the offering is expected to close on Feb. 10, 2020, subject to customary closing conditions. PPD has granted the underwriters a 30-day option to purchase up to an additional 9 million shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
PPD intends to use the net proceeds from the offering, together with cash on hand, to redeem in full its 7.625%/8.375% Senior PIK Toggle Notes due 2022 and 7.75%/8.50% Senior PIK Toggle Notes due 2022, in each case, plus redemption premium and accrued and unpaid interest thereon.
The offering is being made through an underwriting group led by Barclays, J.P. Morgan, Morgan Stanley and Goldman Sachs & Co. LLC, who are acting as lead bookrunning managers, BofA Securities, Credit Suisse, Jefferies, UBS Investment Bank, Citigroup, Deutsche Bank Securities, Evercore ISI, HSBC and Mizuho Securities, who are acting as joint bookrunning managers, and Baird, William Blair and Drexel Hamilton, who are acting as co-managers.
A registration statement on Form S-1 relating to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state 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.
Including Women of Childbearing Age in Clinical Research
March 26th 2024In recognition of International Women's Month, we're featuring this recent talk between Associate Editor Miranda Schmalfuhs and Marie Teil, Global Head of UCB’s Women of Childbearing Age Program. They speak about the specific challenges women with chronic illnesses face when accessing appropriate treatment and participating in clinical trials, UCB's Women of Childbearing Age Program and it’s most successful strategies, and much more.
Using Patient Reported Outcomes in Dermatology Trials
April 25th 2024In part 3 of this video interview with ACT editor Andy Studna, Melissa Mooney, director, eCOA sales engineering, IQVIA sheds light on the unique challenges of dermatology trials and how clinical outcome assessments can be implemented in them.
Improving Engagement While Maintaining Data Integrity & Validity
March 19th 2024In recognition of Women's Health Month, we're featuring this recent talk between Associate Editor Miranda Schmalfuhs and uMotif's Chief Product Officer, Julia Lakeland, discuss new technologies improving patient engagement and reducing the emotional and logistical burdens of participation, ethical considerations that should be addressed when implementing those technologies, while ensuring patient privacy, and much more.