Quintiles looks to raise $900M in stock offering

Quintiles, the world’s largest life science services company, is seeking more than $900 million through a stock offering.

In an updated filing with the SEC on Friday, the Durham-based firm set a price of $40 per share. It cited a range of between $36 and $40 in the filing.

Originally, Quintiles had expected to seek $600 million when it first filed for the Initial Public Offering of shares in February.

The targeted share price was not disclosed until the latest filing early Friday,

Quintiles plans to offer 22.7 million shares with 2.96 million of those made available to the underwriters of the offering should they choose to participate in the offering.

The company itself is offering 13.8 million shares. Investors are selling an additional 5.9 million shares, the updated filing says.

WRALTechWire has much more detail, including how many shares co-founder and Chairman Dr. Dennis Gillings is seeking to sell.

[QUINTILES ARCHIVE: Check out more than a decade of Quintiles stories as reported in WRAL Tech Wire.]