GREENFIELD, Ind.--(BUSINESS WIRE)--
Regulatory News:
Elanco Animal Health Incorporated today announced the closing of its
previously announced initial public offering (“IPO”) of 62.9 million
shares of its common stock at a price to the public of $24.00 per share.
In connection with the IPO, the underwriters exercised in full their
option to purchase an additional 9.435 million shares of common stock at
the price to the public less underwriting discounts, bringing the total
IPO size to 72.335 million shares. The shares began trading on the New
York Stock Exchange on September 20, 2018, under the ticker symbol
“ELAN.”
As of the closing of the IPO, Eli Lilly and Company (“Lilly”) owns
approximately 80.2% of Elanco, which it plans to divest through a
tax-efficient transaction.
After deducting underwriting discounts and commissions and estimated
offering expenses payable by Elanco, the net proceeds to Elanco were
approximately $1.7 billion. The net proceeds from the IPO, net of
certain amounts to be retained by Elanco, have been paid to Lilly as
partial consideration for the animal health businesses that Lilly
transferred to Elanco in connection with the IPO.
Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley acted as joint
lead book-running managers for the offering. Barclays, BNP Paribas, BofA
Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities,
Evercore ISI and Cowen acted as book-running managers for the offering.
The offering was made only by means of a prospectus. Copies of the
prospectus related to the offering may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, email: prospectus-ny@ny.email.gs.com,
telephone: 1-866-471-2526, fax: 1-212-902-9316;
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204
or by email at prospectus-eq_fi@jpmchase.com;
or
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, Second Floor, New York, New York 10014.
A registration statement relating to these securities was filed with,
and declared effective by, the U.S. Securities and Exchange Commission
(SEC). This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Elanco Animal Health Incorporated
Founded in 1954, Elanco provides comprehensive products and knowledge
services to improve animal health and food-animal production in more
than 90 countries around the world. We value innovation, both in
scientific research and daily operations, and strive to cultivate a
collaborative work environment for more than 5,800 employees worldwide.
Together with our customers, we are committed to raising awareness about
global food security, and celebrating and supporting the human-animal
bond. Our worldwide headquarters and research facilities are located in
Greenfield, Indiana.
Forward-Looking Statements
This press release contains forward-looking statements that are based on
management's current expectations, but actual results may differ
materially due to various factors. These statements relate to the
offering and the use of proceeds therefrom. There are significant risks
and uncertainties relating to the offering. Important factors that could
cause actual results to differ materially from management’s expectations
include, without limitation: capital market risks and the impact of
general economic or industry conditions. There can be no guarantees that
Elanco will achieve the anticipated benefits of the IPO. Elanco’s
ability to achieve the anticipated benefits of the IPO may be materially
affected by such factors as changes to the business, results of
operation or financial condition of Elanco, changes in the animal health
industry, adverse market or macroeconomic conditions and other factors
outside Elanco’s control. For additional information about the factors
that affect Elanco's business, please see its filings with the SEC.
Elanco undertakes no duty to update forward-looking statements, except
as may be required by law.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180924006019/en/
Elanco Animal Health Incorporated
Media:
Colleen Parr Dekker,
317-989-7011
colleen_parr_dekker@elanco.com
or
Investors:
Jim
Greffet, 317-383-9935
greffet_james_f@elanco.com
Source: Elanco Animal Health Incorporated