CRO Medpace prepares secondary offering

Contract research organization Medpace (NSDQ:MEDP) yesterday announced an upcoming secondary offering of 4 million shares, which could bring in as much as $137 million given current share price for majority shareholder Cinven Capital.

In addition to the initial 4 million shares, the offering includes a 30-day underwriters option to purchase an additional 600,000 shares, totaling more than $20 million given current share prices, putting the total for the offering just under $160 million for Cinven.

If successful, the round would see Cinven drop from a 56% stake to a 48% stake in Medpace, according to a Law360 report.

Jefferies LLC and Credit Suisse Securities are acting as bookrunners for the offering, according to a press release.

Last August, Cincinnati-based Medpace raised more than $185 million in its initial public offering, including an underwriter’s over-allotment that added more than $24 million to the IPO.

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