[July 31, 2015] |
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Quintiles Announces Pricing of Secondary Public Offering
Quintiles Transnational Holdings Inc. ("Quintiles") (NYSE: Q) announced
today the pricing of an underwritten, secondary public offering of
7,000,000 shares of its common stock by certain of its existing
shareholders, including investment funds associated with Bain Capital
Investors, LLC, affiliates of TPG Global, LLC, affiliates of 3i
Corporation and Temasek Life Sciences Private Limited (the "Selling
Shareholders") at a price to the public of $77.85 per share. Quintiles
will not receive any proceeds from the sale of the shares by the Selling
Shareholders in this offering.
Morgan Stanley is acting as the sole underwriter for this offering.
The offering is expected to close on August 5, 2015, subject to
customary closing conditions.
An automatic shelf registration statement (including a prospectus)
relating to the offering of common stock was filed with the Securities
and Exchange Commission (SEC (News - Alert)) on November 4, 2014 and became effective
upon filing. Before you invest, you should read the registration
statement, prospectus and other documents Quintiles has made available
with the SEC for information about Quintiles and the offering. You may
obtain these documents free of charge by visiting EDGAR on the SEC
website at www.sec.gov.
Alternatively, copies of the prospectus and accompanying prospectus
supplement may be obtained from: Morgan Stanley & Co. LLC, 180 Varick
Street, 2nd Floor, New York, NY 10014, United States, Attention:
Prospectus Department.
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 other 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 other jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statemnts within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements reflect, among other things, our current
expectations and anticipated results of operations, all of which are
subject to known and unknown risks, uncertainties and other factors that
may cause actual results, performance or achievements, market trends or
industry results to differ materially from those expressed or implied by
such forward-looking statements. Therefore, any statements contained
herein that are not statements of historical fact may be forward-looking
statements and should be evaluated as such. Without limiting the
foregoing, the words "anticipates," "believes," "estimates," "expects,"
"intends," "may," "plans," "projects," "should," "targets," "will" and
the negative thereof and similar words and expressions are intended to
identify forward-looking statements. Actual results may differ
materially from our expectations due to a number of factors, including
that completion of the proposed offering may be impacted by risks and
uncertainties associated with market conditions, most of our contracts
may be terminated on short notice, we may be unable to maintain large
customer contracts or to enter into new contracts, we may under price
our contracts or overrun our cost estimates, or fail to receive approval
for or experience delays in documenting change orders, the historical
indications of the relationship of our backlog to revenues may not be
indicative of their future relationship, we may be unable to maintain
information systems or effectively update them, customer or therapeutic
concentration could harm our business, we operate in complex and
changing regulatory and international environments, including economic,
political and other risks such as compliance with a myriad of laws and
regulations, complications from conducting clinical trials in multiple
countries simultaneously and changes in exchange rates, we may be unable
to successfully identify, acquire and integrate businesses, services and
technologies, and we have substantial indebtedness and may incur
additional indebtedness in the future, which could adversely affect our
financial condition. For a further discussion of the risks relating to
our business, see the "Risk Factors" section in our annual report on
Form 10-K for the fiscal year ended December 31, 2014, filed with the
SEC on February 12, 2015, as such factors may be amended or updated from
time to time in our periodic filings with the SEC, which are accessible
on the SEC's website at www.sec.gov.
Unless legally required, we undertake no obligation to update any
forward-looking statement after the date of this release, whether as a
result of new information, future developments or otherwise.
About Quintiles
Quintiles (NYSE: Q) helps biopharma and other healthcare companies
improve their probability of success by connecting insights from our
deep scientific, therapeutic and analytics expertise with superior
delivery for better outcomes. From advisory through operations,
Quintiles is the world's largest provider of product development and
integrated healthcare services, including commercial and observational
solutions. Conducting operations in approximately 100 countries,
Quintiles is a member of the FORTUNE 500 and has been named to FORTUNE's
list of the "World's Most Admired Companies."
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