Avantor, Inc. (NYSE: AVTR), a leading global provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries, announced today the closing of its initial public offering of 238,050,000 shares of its common stock at a price to the public of $14.00 per share, including the full exercise by the underwriters of their option to purchase up to 31,050,000 additional shares of common stock. The Company also announced the closing of its concurrent public offering of 20,700,000 shares of its 6.250% Series A Mandatory Convertible Preferred Stock (the "Mandatory Convertible Preferred Stock") at a price to the public of $50.00 per share, including the full exercise by the underwriters of their option to purchase up to 2,700,000 additional shares of Mandatory Convertible Preferred Stock. Avantor received net proceeds of $4,237 million from the offering after deducting underwriting discounts and commissions and estimated offering expenses.

The Company used approximately $2,631 million of the net proceeds from both offerings to redeem all outstanding shares of its Series A Preferred Stock. Avantor also used the remaining proceeds to repay $1,024 million and $582 millionof outstanding indebtedness under its senior secured dollar term loan facility and senior secured euro term loan facility, respectively.

Avantor's common stock and Mandatory Convertible Preferred Stock are each listed on the New York Stock Exchange; Avantor's common stock trades under the ticker symbol "AVTR," while the Mandatory Convertible Preferred Stock trades under the ticker symbol "AVTR PRA."

Goldman Sachs & Co. LLC and J.P. Morgan served as the joint book-running managers and as representatives of the underwriters for the offerings. BofA Merrill Lynch, Barclays, Jefferies, Credit Suisse, Deutsche Bank Securities, Evercore ISI, Guggenheim Securities, Morgan Stanley, UBS Investment Bank, Citigroup, Cowen, Piper Jaffray and RBC Capital Markets also acted as bookrunners for the offerings. Baird, William Blair, Janney Montgomery Scott, KeyBanc Capital Markets, PJT Partners LP, Raymond James, Stephens Inc., Stifel, SunTrust Robinson Humphrey, Wells Fargo Securities and Drexel Hamilton acted as co-managers for the offerings.

About Avantor 

Avantor® is a leading global provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. We operate in more than 30 countries and deliver an extensive portfolio of products and services. We set science in motion to create a better world.