RESEARCH TRIANGLE PARK, N.C. – March 12, 2014 – Quintiles today announced the pricing of a secondary public offering of 15 million shares of its common stock by certain of its shareholders at a price to the public of $52.00 per share. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 2.25 million shares of common stock. The offering is expected to close on March 18, 2014, subject to customary closing conditions.
Quintiles is not selling any shares in this offering and will not receive any proceeds from the sale of the shares by the selling shareholders.
Morgan Stanley, Barclays and J.P. Morgan are serving as joint book-running managers and as representatives of the underwriters for the offering. Citigroup, Goldman, Sachs & Co., Wells Fargo Securities, BofA Merrill Lynch and Deutsche Bank Securities are serving as book-running managers for the offering. Baird, William Blair and Jefferies are serving as lead co-managers, and Guggenheim Securities, Piper Jaffray, Raymond James, RBC Capital Markets and UBS Investment Bank are serving as co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 12, 2014. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, via telephone: +1 (866) 718-1649 or by email: firstname.lastname@example.org; Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 via telephone: +1 (888) 603-5847, or by email: email@example.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or via telephone: +1 (866) 803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Quintiles (NYSE: Q) is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 28,000 employees conducting business in approximately 100 countries. We have helped develop or commercialize all of the top-50 best-selling drugs on the market. Quintiles applies the breadth and depth of our service offerings along with extensive therapeutic, scientific and analytics expertise to help our customers navigate an increasingly complex healthcare environment as they seek to improve efficiency and effectiveness in the delivery of better healthcare outcomes.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements reflect, among other things, our current expectations and anticipated results of operations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, market trends or industry results to differ materially from those expressed or implied by such forward-looking statements. Therefore, any statements contained herein that are not statements of historical fact may be forward-looking statements and should be evaluated as such. Without limiting the foregoing, the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. Actual results may differ materially from our expectations due to a number of factors, including the risk that the proposed offering may not be completed. For a discussion of the risks relating to our business, see the “Risk Factors” section in our registration statement on Form S-1 relating to our secondary offering initially filed with the Securities and Exchange Commission (“SEC”) on February 21, 2014, as amended, and our other filings with the SEC. Unless legally required, we undertake no obligation to update any forward-looking statement after the date of this release, whether as a result of new information, future developments or otherwise.
Phil Bridges, Media Relations (firstname.lastname@example.org)
+ 1.919.998.1653 (office) +1.919.457.6347 (mobile)
Karl Deonanan, Investor Relations (InvestorRelations@quintiles.com)