Mead Johnson Nutrition said today (18 February) that it has closed its previously announced initial public offering of 30m shares of Class A common stock at the public offering price of US$24 per share.
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Further, the underwriters of the offering have exercised their over-allotment option and purchased 4.5m additional shares of Class A common stock.
Including the over-allotment, the company sold 34.5m shares in the offering for net proceeds of around $782m, after deducting underwriting discounts, commissions and estimated offering expenses.
The company said that with this over-allotment, it will have 204.5m shares of Class A and Class B common stock outstanding.
Citi, Morgan Stanley, Banc of America Securities, Credit Suisse and JP Morgan acted as joint book-running managers for the offering.
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