Danaher to Net $3 Billion From Upsized Offerings
By Colin Kellaher
Danaher Corp. on Friday said it expects to net about $3 billion
from upsized public offerings of common and preferred stock.
The Washington science and technology company said it priced an
offering of 9.5 million common shares at $163 apiece, for expected
net proceeds of about $1.5 billion.
Danaher also priced 1.55 million 5% Series B mandatory
convertible preferred shares at $1,000 each, for net proceeds of
roughly $1.51 billion.
The company could pick up another $300 million if the
underwriters exercise their overallotment options in full.
Danaher, which on Thursday announced plans to sell $1.25 billion
each of common and preferred, said it will use the proceeds for
general corporate purposes.
Shares of Danaher closed Thursday at $163.48.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires
May 08, 2020 06:28 ET (10:28 GMT)
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