Maravai LifeSciences, a provider of life science reagents and services to researchers and biotech companies, has raised $1.62 billion for its IPO after pricing its 60 million shares at $27 per share. The stock began trading November 20, 2020 on the NASDAQ under the ticker symbol “MRVI.” Morgan Stanley, Jefferies and Goldman Sachs are the lead underwriters. Maravai is a portfolio company of GTCR.
SAN DIEGO, Calif., Nov. 19, 2020 (GLOBE NEWSWIRE) — Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today announced the pricing of its upsized initial public offering of 60,000,000 shares of Class A common stock at a public offering price of $27.00 per share, before underwriting discounts and commissions, for gross proceeds of $1,620,000,000. All shares of Class A common stock are being offered by Maravai. The shares are expected to begin trading on the Nasdaq Global Select Market on November 20, 2020, under the symbol “MRVI.” The offering is expected to close on November 24, 2020, subject to the satisfaction of customary closing conditions. Additionally, Maravai has granted the underwriters a 30-day option to purchase up to an additional 9,000,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.
Morgan Stanley, Jefferies and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. BofA Securities, Credit Suisse, UBS Investment Bank, Baird, William Blair, Stifel and KeyBanc Capital Markets are also acting as joint book-running managers, and Academy Securities, Loop Capital Markets, Penserra Securities LLC and Tigress Financial Partners are acting as co-managers for the offering.
Perella Weinberg Partners L.P. served as capital markets advisor to Maravai. Kirkland & Ellis LLP provided legal counsel to Maravai and Davis Polk & Wardwell LLP provided legal counsel to the underwriters.
A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission and became effective on November 19, 2020. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at firstname.lastname@example.org; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526, by facsimile at 212-902-9316 or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Maravai is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases through its portfolio of companies and their proprietary capabilities and products. Maravai’s companies are leaders in providing products and services in the fields of nucleic acid synthesis, bioprocess impurity detection and analysis, and protein labeling and detection to many of the world’s leading biopharmaceutical, vaccine, diagnostics, and cell and gene therapy companies.