Medpace prices $248m secondary offering

Medpace (NSDQ:MEDP) today priced an upcoming secondary offering which could bring in up to approximately $247.5 million.

In the offering, the Cincinnati-based company said that investment funds affiliated with Cinven Capital Management will offer approximately 4.5 million shares of its stock at a price of $55 per share.

The offering also includes a 30-day underwriter’s option to purchase an additional 675,000 shares of common stock, which could bring in an additional $37.1 million.

Medpace specified that it will not receive any funds from the offering, which is expected to close on August 10, with Morgan Stanley acting as the sole book runner, according to a press release.

Last December, MedPace said that affiliates of Cinven Capital Management launched a secondary offering of four million shares of its common stock at $31.50 per share, for gross proceeds of $126 million – not including an underwriter’s option worth another $18.9 million.

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