NEW YORK, July 29, 2021 (GLOBE NEWSWIRE) — HealthCare Royalty, Inc. today announced that it has commenced the roadshow for its initial public offering of 46,875,000 shares of its Class A common stock, par value $0.01 per share, at an anticipated public offering price between $15.00 and $17.00 per share. HCR is offering 31,250,000 shares of Class A Common Stock, and the selling stockholder is offering an additional 15,625,000 shares of Class A Common Stock. In addition, the underwriters have an option, exercisable within 30 days after the date of the final prospectus relating to the offering, to purchase up to an additional 3,515,625 shares of Class A Common Stock from the Company and 3,515,625 shares of Class A Common Stock from the selling stockholder. The Company’s Class A Common Stock is expected to be listed for trading on the Nasdaq Global Market under the symbol “HCRX.”
The Company intends to use a portion of the net proceeds that it receives from the offering, together with a portion of the proceeds of its previously announced concurrent debt financing, to consummate a corporate reorganization as more fully described in the prospectus relating to the offering. The Company intends to use the remaining proceeds it receives from the offering and debt financing to pursue royalty acquisitions and other royalty-related transactions and for general corporate purposes.
Goldman Sachs & Co. LLC, Citigroup, and Credit Suisse are acting as joint lead book-running managers. Jefferies, Cowen, SVB Leerink, Truist Securities, BMO Capital Markets, Stifel and Raymond James are also acting as joint book-running managers for the proposed offering. Siebert Williams Shank, Cabrera Capital Markets LLC and Drexel Hamilton are acting as co-managers for the proposed offering.
