Ortho files for IPO to sell 70M shares

2020 02 13 23 00 0458 Business Financial Results 400

Ortho Clinical Diagnostics has filed for an initial public offering (IPO) that aims to sell 70 million shares at a price between $20 and $23 per share. The company's shares will be traded on the Nasdaq stock exchange under the symbol "OCDX."

Ortho said it plans to grant the IPO's underwriters a 30-day option to purchase up to 10.5 million additional shares at the offering's price, minus underwriting discounts and commissions. The company said it planned to use proceeds from the IPO for working capital and general corporate use, as well as to retire $160 million senior notes due in 2025 and $270 million in senior notes due in 2028.

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