Sotera Health Launches Significant Secondary Stock Offering
Sotera Health's New Secondary Offering Announcement
Sotera Health Company (Nasdaq: SHC) recently shared exciting news with its stakeholders regarding a substantial secondary offering of 25 million shares of its common stock, valued at $0.01 each. This offering is being led by notable affiliates Warburg Pincus LLC and GTCR LLC, who are selling shareholders in this transaction. Importantly, the company itself will not be selling any shares or receiving any proceeds from this offering.
Details of the Offering
Under the terms of the offering, the selling stockholders will see a shift in control, as they will no longer own a majority of Sotera Health’s outstanding shares. This change is anticipated to influence certain sponsor rights associated with these holdings, which are detailed in the latest general meeting proxy statement filed by the company. Even though the company's affiliates such as Warburg Pincus and GTCR will be reducing their stakes, this decision reflects a strategic move to enhance liquidity in the market.
Citigroup: The Underwriter
Citigroup has stepped in as the underwriter for this significant offering. They plan to distribute the shares across various platforms, including Nasdaq and the over-the-counter market. This approach ensures that the shares will be offered at market or negotiated prices, providing flexible options for buyers interested in participating in this offering.
Accessing the Prospectus
For those eager to learn more about this offering, Sotera Health has indicated that a prospectus will be available. Interested parties can request copies from Citigroup, specifically through Broadridge Financial Solutions, based in New York. This transparency allows potential investors to access crucial details and terms associated with the offering.
SEC Registration Details
To ensure compliance with regulatory requirements, a registration statement for these securities has already been filed with the Securities and Exchange Commission. It was formally submitted in February 2024 and has subsequently taken effect automatically, streamlining the process for the offering to proceed without any hitches.
Understanding Forward-Looking Statements
While discussing the offering, it’s essential to recognize that some of the statements made are classified as 'forward-looking statements.' These declarations, though optimistic about the business's future, come with inherent risks and uncertainties. Potential investors are encouraged to review these risks as outlined in the company’s latest annual report and SEC filings to make an informed decision.
About Sotera Health
Sotera Health stands out as a premier global provider, offering vital end-to-end sterilization solutions along with comprehensive lab testing and advisory services tailored to the healthcare sector. Its operations are structured through three key divisions: Sterigenics, Nordion, and Nelson Labs. With a steadfast commitment represented by their mission, "Safeguarding Global Health," Sotera Health strives to support healthcare providers and enhance safety and efficacy within the industry.
Investor Relations and Media Contacts
For inquiries related to investor relations, Jason Peterson, the Vice President, is available at the company's office. He can be reached at IR@soterahealth.com. Additionally, for media inquiries, Kristin Gibbs, Chief Marketing Officer, is the point of contact and can also be reached at kgibbs@soterahealth.com.
Frequently Asked Questions
What is Sotera Health's secondary offering about?
Sotera Health announced a secondary offering of 25 million shares led by its affiliates, expected to shift control of majority shares.
Who is responsible for underwriting the offering?
Citigroup is acting as the underwriter, facilitating the sale of shares through various platforms.
Will Sotera Health receive any proceeds from the offering?
No, the company will not receive any funds from this secondary offering; all proceeds will go to the selling stockholders.
Where can I find more information about the offering?
Information will be provided in a prospectus available through Citigroup's Broadridge Financial Solutions.
What does the term 'forward-looking statements' mean?
This term refers to statements that discuss future projections or expectations, which may involve risks and uncertainties.
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