Contract research organization Medpace today released the pricing for its initial public offering, looking to float 7 million shares at between $20 and $23 per share.
Private equity shop Cinven paid CCMP Capital Advisors $921.3 million for Cincinnati-based Medpace in 2014. The company originally registered for the $150 million IPO in late June, saying it plans to use to pay down some of its debt.
The company plans to list on the NASDAQ exchange under the “MEDP” symbol, according to an SEC filing.
The company said its CEO Dr. Augus Troendle is interested in purchasing $20 million in shares of common stock at the offering price, but may increase or reduce the amount.
Medpace, which posted sales of $320.1 million last year, swung to black during the 1st quarter on sales growth of 15.5%to $87.8 million. Profits were $3.5 million, or 8¢ per share, compared with -$59.0 million or no cents per share during Q1 2015.
Medpace employs 2,200 workers in 35 countries, said in the filing that it had net debt of $378.5 million as of March 31.
The post Medpace prices $161m IPO appeared first on MassDevice.
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