Avantor® Announces Conversion of Mandatory Convertible Preferred Stock
RADNOR, Pa., May 13, 2022 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, announced today that its 6.250% Series A Mandatory Convertible Preferred Stock (the "Preferred Stock"), will automatically convert into shares of the Company's common stock on May 16, 2022 (the "conversion date"). The conversion rate for each share of Preferred Stock will be 3.0395 shares of the Company's common stock. Cash will be paid in lieu of fractional shares of common stock.
As previously announced, holders of record at the close of business on May 1, 2022, will separately receive a final quarterly cash dividend of $0.78 per share on the Preferred Stock, payable on the conversion date.
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