GREENFIELD, Ind.--(BUSINESS WIRE)--
Elanco Animal Health Incorporated, a subsidiary of Eli Lilly and Company
(NYSE:LLY), announced today the pricing of its initial public offering
(IPO) of 62.9 million shares of its common stock at a price to the
public of $24.00 per share. The shares are expected to begin trading on
the New York Stock Exchange (NYSE) on September 20, 2018 under the
ticker symbol “ELAN.” The offering is expected to close on September 24,
2018, subject to customary closing conditions.
Elanco has granted the underwriters a 30-day option to purchase up to
9.435 million additional shares of common stock at the initial price to
the public less underwriting discounts.
Following the IPO, Lilly is expected to hold approximately 82.3% of
Elanco (80.2% if the underwriters' option to purchase more shares is
exercised in full). The net proceeds from the IPO, net of certain
amounts to be retained by Elanco, will be paid to Lilly as partial
consideration for the animal health businesses that Lilly is
transferring to Elanco in connection with the IPO.
Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley are joint lead
book-running managers for the offering. Barclays, BNP Paribas, BofA
Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities,
Evercore ISI and Cowen are book-running managers for the offering.
The offering will be made only by means of a prospectus. Copies of the
prospectus related to the offering may be obtained when available 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 Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to
make life better for people around the world. We were founded more than
a century ago by a man committed to creating high-quality medicines that
meet real needs, and today we remain true to that mission in all our
work. Across the globe, Lilly employees work to discover and bring
life-changing medicines to those who need them, improve the
understanding and management of disease, and give back to communities
through philanthropy and volunteerism.
About Elanco Animal Health
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.
C-LLY
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: the satisfaction of customary closing
conditions relating to the IPO; capital market risks; and the impact of
general economic or industry conditions. There can be no guarantees that
Lilly will achieve the anticipated benefits of the IPO. Lilly'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 or Lilly, changes in the
animal health or pharmaceutical industries, adverse market or
macroeconomic conditions and other factors outside Lilly's control. For
additional information about the factors that affect Lilly's and
Elanco's businesses, please see their respective filings with the SEC.
Each of Lilly and 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/20180919005836/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