PRA Health Sciences, Inc. Files Registration Statement for Initial Public Offering
PRA Health Sciences, Inc. announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (“IPO”) of shares of its common stock by PRA Health Sciences and an affiliate of Kohlberg Kravis Roberts & Co. L.P. (the “Selling Stockholder”). The number of shares to be offered and the price range has not yet been determined.
PRA Health Sciences intends to use the proceeds it receives in the IPO to reduce the company’s debt by redeeming a portion of Senior Notes that have been issued by the company and to repay a portion of borrowings under credit facilities. The Selling Stockholder will receive all of the proceeds from the sale of its shares in the offering.
Jefferies LLC, Citigroup Global Markets Inc., KKR Capital Markets LLC, UBS Securities LLC, Credit Suisse Securities (USA) LLC, and Wells Fargo Securities, LLC are serving as joint underwriters for the offering.
This announcement is being made pursuant to and in accordance with Rule 134 under the U.S. Securities Act of 1933, as amended. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
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